Komercijalna banka


Komercijalna banka is a bank founded in 1970 with headquarters in Belgrade, Serbia. As of 2017, it has a network of 11 business centers, 13 branch offices and 220 branches in Serbia, Montenegro and Bosnia and Herzegovina.

History

Komercijalna banka was founded on 1 December 1970 in Belgrade, SFR Yugoslavia. On 6 May 1992, it was transformed into joint-stock company.
In November 2002, Komercijalna banka established Komercijalna banka Budva, operating in Montenegro. The bank also operates in Bosnia and Herzegovina through its local subsidiary Komercijalna banka Banja Luka since September 2006.
As of December 2014, two of the bank's biggest stakeholders were the Government of Serbia with 42.6% and European Bank for Reconstruction and Development with 25% of shares.
In March 2015, the bank's management announced that Government of Serbia plans to sell its stake in the bank in the second half of 2017. However, the auction was postponed several times, with the latest announcements saying that it will be performed in 2019. In June 2019, the Government of Serbia increased its stake in ownership by acquiring 6.8% of shares from DEG and Swedfund International for 43.7 million euros. In November 2019, the Government of Serbia acquired 34.58% of shares from EBRD and International Finance Corporation for 217 million euros, increasing its stake in the bank to 83.23% of shares. On 26 February 2020, the Government of Serbia signed a purchase agreement worth 387.02 million euros with the Slovenian NLB Group for 83.23% of shares in the bank.

Market and financial data

According to the 2018 audited consolidated annual financial report, the company has 3,106 employees and posted an annual net income of €70.90 million. As of 21 February 2020, Komercijalna Banka has a market capitalization of €457.74 million.