COMMERCIAL AND OFFICIALLY SLOVENIAN: Ten months after the sale of the national bank to NLB, the transaction is completed.

Then, in the extraordinary session of the General Meeting of Shareholders of Komercijalna Banka, the Bank’s Board of Directors was replaced and new members, of NLB Bank, were appointed.

The National Bank of Serbia confirmed to us that the acquisition process has ended.

– The process on this request from Nova Ljubljanska banka to acquire the property in Komercijalna banka ended on December 9, with the adoption of the Decision of the National Bank of Serbia, which granted prior consent to NLB to acquire the direct controlling property, which that will allow 83.23 percent of the voting rights. at Komercijalna Banka.

As they say in the NBS, by obtaining their consent, the conditions for the transaction were acquired – takeover of the bank, which includes the payment of the purchase price and the implementation of the change of ownership of the bank’s shares in the Central Registry, deposit of securities and compensation. From the Republic of Serbia and NLB. The period in which the transaction can be carried out at the latest is, as they explain, until the adoption of the first subsequent annual financial statements, that is, the audited financial statements of NLB.

– Regarding the dismissal of the existing members of the Bank’s Board of Directors and the decisions of the Assembly regarding their dismissal, as indicated above, due to the cumulative fulfillment of certain conditions, which, among others, refer to to the transfer of ownership in the Bank. , that is to say. in its inauguration by its new shareholders.

An extraordinary session of the Komercijalna Banka Assembly was held two days after the inauguration, on December 11, and then the current president of the Board of Directors Marija Sokic, president of the Bank’s Board of Directors, as well as members Daniel Pantic, were dismissed. Dejan Hadzic, Katarina Susic, Goran Knezevic and Zoran Jovic. The new President of the Council is Archibald Kremser, and the members are Blaž Brodnjak, Ursula Kovačić, Igor Zalar, Marko Jerić, Vesna Vodopivec, Nenad Filipović, Guy Richard Steele Stevens and Dragan Đuričin.

Since the news of the sale of Komercijalna banka to the Slovenian Nova ljubljanska banka for around 450 million euros was published at the end of February, the official acquisition has been waiting for almost ten months. Finance Minister Sinisa Mali previously announced that the transaction would be completed by the end of the year. As we were previously told on the NBS, we were waiting for NLB to obtain all the documents to obtain consent for the acquisition.

In mid-June, NLB Bank submitted an application to the National Bank of Serbia for the acquisition of the direct property, and after submitting the application, its regularity was assessed, that is, whether the application and the submitted documentation were complete and whether it was filed in accordance with regulations.

WAITING AGREEMENT

BEFORE NBS gave its consent, compliance with the prescribed conditions related to the financial condition, business reputation and strategic objectives of the potential acquirer of the bank’s property was assessed. As explained in the NBS, an evaluation of compliance with all the conditions prescribed in accordance with the Banking Law, NBS regulations adopted based on said law, internal acts, procedures was carried out, which represents the legal framework to decide on the application submitted.