PRIVREDNA BANKA BEOGRAD: We are not filing for bankruptcy, but seeking strategic partner

There are no facts that could at this moment substantiate the information that the owner, that is, the state, has decided to have Privredna Banka Beograd (PBB) file for bankruptcy, bank officials said in a reaction to media reports saying that PBB is the third state-owned bank to file for bankruptcy after not being able to solve its problems by itself.

- By the decision of the Serbian government, Privredna Banka has been in the process of searching for a qualified investor since December 2012. For this purpose, a special committee has been formed and a privatization adviser has been hired. With the aim of further ensuring the security of clients and improving the liquidity as well as strengthening the overall operations of the bank, the Serbian government, as a majority owner, wants to find a strategic partner through a merger and/or capital hike and/or sale of the shares in the possession of the Republic of Serbia. It can be concluded from everything mentioned above that the bank is not filing for bankruptcy, but seeking a strategic partner - the bank said in a release.