State to recapitalize Privredna Banka with 10 to 15 million euros

State Secretary at the Ministry of Finance Goran Radosavljevic said in an interview to Bloomberg that the banks that turned to the Serbian government for help (Razvojna Banka Vojvodine and Privredna banka) "have the capital adequacy ratio of between 8 and 10 percent."

According to his words, the government will spend between 10 and 15 million euros to recapitalize Privredna Banka and prepare it for sale.

- There is a certain interest in this bank among foreign investors and international finance institutions, but we must recapitalize it first - said Radosavljevic.

Earlier, during 2010 and 2011, there were some investors interested in recapitalizing Privredna Banka, but the National Bank of Serbia refused to give its permit. After these unsuccessful attempts, the media started to mention NKB Maribor, which controls Credy Banka in Serbia, as a potential strategic partner of Privredna Banka.