MEDAN: Komercijalna Banka awaits tender with strong balance sheet

The date for tender for selecting a strategic partner for Komercijalna Banka is approaching fast. Vladimir Medan, the President of the bank`s Executive Board said for Blic daily that they were waiting for the strategic partnership with a strong balance sheet because last year the bank had achieved the best financial results in the past ten years.

Blic reminded that the Minister of Finance, Sinisa Mali said the public call for tender would be placed in May and the whole thing should be over with by the year`s end.

Medan said to Blic that they achieved success by altering the trends in the most important business aspects and recorded significant progress in several business areas.

- The bank made a record profit of nearly EUR 71 million, which is its most significant achievement. We have simultaneously improved many business parameters – we increased the savings rate, balance sum, workforce productivity and our market share which is, in our opinion, the most important message Komercijalna Banka can send, said Medan

The bank`s goal is to maintain this business trend in the following years because Komercijalna Banka is one of the pillars of stability of Serbian banking sector, Maden said and added that bank share value jumping from RSD 1,800 to RSD 2,900 from March until now supported his statement.

The current market value of Komercijalna Banka on the Belgrade Stock Exchange is EUR 413 million. Before the financial crisis of 2008 the bank`s value was estimated at EUR 2 billion.

NLB Komercijalna banka AD Beograd

Vladimir Medan

strategic partner for Komercijalna Banka