Nova Mariborska Banka to take over Kragujevac's Credy Banka

- Credy Banka from Kragujevac, which is majority owned by the state, will enter the process of privatization in early March and the new owner will be Nova Mariborska Banka - newspaper Danas announced.

Danas was officially confirmed that the meeting of the Assembly of Credy Banka would be scheduled for March 5th and that all the decisions necessary for privatization would be made on that occasion.

According to still unofficially information, Credy Banka will be privatized through additional capitalization, that is, Nova Mariborska Banka's investment of 10m EUR. Slovenian bank would then invest additional 20m EUR in the bank in Kragujevac. According to the estimates of the management of NMB, Credy Banka has surplus employees, so that an appropriate social program will be made for them. Those who want to leave the bank will be offered severance pays of 500 EUR per year of work. The management of Nova Mariborska Banka agree that the headquarters of Credy Banka remains in Kragujevac within next four years.

The negotiations between the authorized government organs and NMB's management started in mid-2009 and they were supposed to be finished prior to the end of 2009. The public speculated that Slovenians extended the negotiations until Fiat made the arrival in Kragujevac official.