Miodrag Kostic becomes majority owner of AIK banka

(Miodrag Kostic)

Miodrag Kostic, the owner of MK Group, has become a majority owner of AIK banka, the daily Blic reports.

Although he wanted to fully acquire AIK banka, Kostic has bought 'only' 50.37 percent of the Nis-based bank.

Over the last 20 days, during which the takeover bid was open, Kostic managed to acquire 12.46% or 1.2 million shares in AIK banka. He paid each share about EUR 14, whereas the entire package cost him EUR 16 million. In this way, Kostic has become a majority owner of the bank because he had previously held a 37.9 percent stake in it.

People at MK Group confirmed to Blic that the Sunoko company with related parties had acquired a 50.37 percent stake in AIK banka.

The chairman of the AIK banka Executive Board is Vladimir Cupic, while its Managing Board is chaired by Miodrag Kostic.

According to official data, AIK banka's profit in 2012 amounted to RSD 3.64 billion, whereas its profit before taxation in the first nine months of 2013 was at RSD 1.5 billion.