Step closer to partnership with EBRD – stockholders of Čačanska banka accepted additional capitalization

The assembly of stockholders of Čačanska banka has accepted the proposal for additional capitalization from European Bank for REhabilitation and Development (EBRD), which announced procurement of 25% of stocks of this bank, which will be only the first step toward full privatization of that domestic bank.

The manager of Čačanska banka, Dragan Jovanović, estimated on that occasion that the announced investment would make the bank from Čačak modern and efficient institution with the leading position in financing of small and mid-sized enterprises in central and west Serbia.

In May 2006, according to the request of EBRD, Čačanska banka made the draft of the five-year business plan, which was followed by the determination of the value of one non-issued stock to 449.6 EUR, whereas the total price of all stocks will amount to about 15m EUR (in CSD).