EBRD - new stockholder of Komercijalna banka, privatization of Novosadska, Continental, Niška, Vojvođanska and Panonska banka in 2005, privatization of Privredna banka Pančevo in 2006

The negotiations with European Bank for Rehabilitation and Development (EBRD) on becoming minority stockholder in Komercijalna banka are underway. According to that model, EBRD and the Republic of Serbia would together have majority package of stocks of Komercijalna banka, which would be followed by preparations for privatization on the stock market in 2006.

That is the agreement with the World Bank and IMF, according to which this bank prepares for privatization by means initial offer for take-over, which would be carried out within next three years on the Belgrade Stock Market.

However, according to the opinion of the Minister of Finance Mlađan Dinkić, the only way out for the other banks with the majority State-owned capital, which was created through conversion of debts towards the Paris and the London Club, was to find strategic partner. Their privatization will be completed next year. Tenders for all banks, except for Privredna banka Pančevo that will be offered for sale in 2006, will be announced in 2005. After privatization of Ju banka, privatization of Novosadska and Continental banka will be carried out until the middle of 2005. The obligating offers for these banks will be accepted prior to May 15, 2005. The tender for Niška banka has already been announced. In the second half of the year the tender for Vojvođanska and Panonska banka will be announced, as well as tender for Kredi banka from Kragujevac.