Privredna Banka to merge with Postal Savings Bank on October 28th

With the aim of preserving the stability of the country's financial system, the Finance Ministry announced Tuesday (22 October 2013) that it would suggest the Serbian government adopt a decision to allow the transfer of all insured and uninsured deposits of Privredna Banka Beograd (PBB) and part of PBB's assets (cash, mandatory reserves, securities and loans) to the Postal Savings Bank (PSB).

According to the ministry, "this measure is necessary as it ensures the stability of financial system and is justified because it is the cheapest option for the citizens of Serbia. In addition, further successful operations of the PSB are also taken in account."

With the implementation of this measure, all clients of PBB will become the clients of the PSB on Monday (October 28th) and will be able to use their money as they wish.