EBRD buys one fourth of assets of Čačanska banka

The Board of Directors of European Bank for REhabilitation and Development (EBRD) has made the decision on procurement of 25% of stocks of Čačanska banka.

This is the first step towards full additional capitalization of the bank, which will create much bigger opportunities for easier access to fresh financial means intended for investments in development of small and mid-sized enterprises", said the deputy of the manager of Čačanska banka Aleksandar Ćalović.

According to his words, when the Govermnent of Serbia agrees, the appropriate decision of the bank's assembly will follow.

After recent additional capitalization of Komercijalna banka from Belgrade, this is the second case that Serbian banks are enabled to join bigger European banking institutions in this way.

Čačanska banka has successful cooperation with EBRD since two years ago.

Thus, in 2005, it obtained open credit line in amount of 5m EUR for the stimulation of the economic development.