Pre-qualification tender for Privredna Banka Beograd extended until 15 January 2013

The Finance Ministry today extended the deadline to submit expressions of interest for the recapitalization, merger or the aquisition of shares in Privredna Banka Beograd until 15 January 2013.

An invitation for all interested investors was published December 10th, while the deadline to submit aforementioned expressions of interest was supposed to expire today.

Investors can submit their expression of interest either individually or as consortium leaders.

The state of Serbia holds a 64.8-percent stake in Privredna Banka Beograd. An ongoing tendering process to select a privatization advisor for that bank will last until December 31st.

Privredna Banka has been reporting losses over the last three years. In 2011, this bank made a RSD 793 million loss, causing the state to recapitalize the bank with RSD 2 billion.

The total assets of Privredna Banka at the end of September 2012 amounted to EUR 254.93 million, whereas its capital stood at EUR 29 million. The bank has 36 offices in Serbia and 57,354 clients, 87.5% of whom are citizens.