Strategy of merging of state's banks by mid 2009

Director of the Agency for insurance of deposit of Serbia, Milorad Dzambic, announced today (February, 24th, 2009) that the strategy about merging of state's banks would be brought in the first half of this year.

At the press conference Mr. Dzambic said that he didn't have information weather all four or three banks would be merged.

Serbian Minister of finances, Mrs. Diana Dragutinovic explained that the bank which could be excluded from the merging was Credy bank from Kragujevac, which could be as she put it "recapitalized".

Representatives of the Government earlier announced the possibility of merging Postal savings bank, Commercial bank "Pancevo", Srpska bank and Credy bank.