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Report: Slovenia's NLB offers to buy Serbian lender Komercijalna banka

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Report: Slovenia's NLB offers to buy Serbian lender Komercijalna banka

Slovenian lender Nova Ljubljanska banka d.d. has submitted a nonbinding bid to take over Serbia-based Komercijalna banka a.d. Beograd, Reuters reported, citing newspaper Dnevnik.

The Serbian government recently agreed to increase its stake in Komercijalna banka by acquiring the combined 34.58% stake of the European Bank for Reconstruction and Development and the International Finance Corp. as it seeks to return the bank to private ownership. Upon completion of the acquisition, Serbia will hold an 83.23% stake in the lender.

Serbian Finance Minister Siniša Mali has also said the government received four nonbinding bids for Komercijalna banka.

A deal would expand NLB's market share in Serbia, which currently stands at about 1.5%, according to the Sept. 12 report.