Cacanska Banka to appoint privatization adviser by end of 2011

The stakeholders of Cacanska Banka will appoint the privatization adviser by the year's end and the future ownership structure of the bank, which is mainly positioned in western and central Serbia, should be known by the end of 2014 at the latest, Head of Retail Operations at Cacanska Banka Miroslav Marinkovic says for eKapija.

When we take a look at the ownership structure of Cacanska Banka, we can see that the state still owns the biggest stake - 28.48 percent. It is followed by the EBRD with a 24.99 percent stake, the IFC - 19.9 percent, the Swedish investment fund East Capital, Beogradska Banka (in bankruptcy) - 3.27 percent...

At the event Belex-Bankers' Day, which was organized on Tuesday by the Belgrade Stock Exchange, Marinkovic also presented the bank's business results for this year, that is, for the period prior to and inclusive of May 31st.

According to these results, Cacanska Banka turned a net profit of RSD 494,684,000, based on interest rates, while the net profit in the same period last year amounted to RSD 453,396,000. Operational expenditures were also reduced, reaching RSD 382,509,000 after the first five months of this year. On the other hand, the profit before taxation is on a rise and amounts to RSD 53,244,000 against RSD 46,586,000 registered in the same period last year.

Speaking about the bank's plans for the following period, Marinkovic said that they planned to increase their market share on the territory of Belgrade and Novi Sad. As Marinkovic explained for our web portal, the opening of business centers intended for small and medium-sized enterprises will help them achieve that.

- There will not be classical credit officials, but teams of people who will be helping clients develop their operations - said Marinkovic.

The business centers are planned to be opened by the year's end, while the first center will be opened in Belgrade.