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The process of acquiring Komercijalna Banka from Belgrade ends today, when Nova Ljubljanska Banka is expected to pay 395 million euros to the Serbian budget.
The procedure ended with the decision of the National Bank of Serbia (NBS), which gave prior consent to NLB to acquire direct controlling property, allowing it 83.23 percent, or more than 50 percent of the voting rights. at Komercijalna Banka.
The acquisition of Komercijalna banka involves the payment of the purchase price and the implementation of the change of ownership of the bank’s shares on the basis of the Share Purchase Agreement between the Republic of Serbia and NLB.
Some 60 million euros have already been paid to the State through dividends, and the payment of the arrears of dividends was one of the conditions to close the operation.
In addition to the 387 million euros, Serbia will earn a total of about 460 million euros for 83.2 percent of the state shares until the acquisition of Komercijalna Banka is completed.
Of the already received 60 million euros or about seven billion dinars, 3.7 billion dinars refer to the contractual obligation to distribute half of last year’s earnings through a dividend.
The privatization of Komercijalna Banka is part of the IMF agreement with Serbia, which expires at the end of the year.
What will happen to the citizens’ accounts?
In essence, theoretically and practically, the bank buys all the rights and obligations. So when one bank takes over another, it takes over all the rights that that bank has, but also all its obligations. The contracts that have been signed so far remain unchanged. In translation, the interest on loans and savings remains the same, as do all the rights and obligations that you have previously signed.
Most importantly, the bank’s customers should follow the notifications because some technical things may change, but the bank will also find a way to inform you if you don’t get the information.
Specifically, in the case of Komercijalna Banka, the biggest change will be the new name: “NLB Komercijalna Banka”. Read more about the changes HERE.
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