Komercijalna Banka a.d. Beograd pre-privatisation



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

23 Mar 2006



PSD disclosed:

17 Feb 2006

Project Description

EBRD’s pre-privatisation equity investment in Komercijalna Banka (KB) will be the first step for full privatisation through an IPO in 3 to 5 years. EBRD’s presence will be particularly important as it will actively participate in the preparation for the IPO through the design and implementation of a comprehensive institution building plan, with particular emphasis in such key areas as improved corporate governance, strengthened credit and risk management procedures, internal re-organisation and upgraded customer services.

EBRD’s investment will fund necessary investments particularly in IT, branch network upgrading and staff training. The main objective will be the development of KB into a modern, efficient bank in an increasingly competitive financial sector, taking full advantage of its branch network, the largest in Serbia.

Further, EBRD’s long-term debt finance will help KB to expand its operations and introduce new products, particularly to finance residential mortgages in Serbia.


Transition Impact

The proposed project is expected to contribute to the transition process of the Serbian banking sector and the overall economy of the country. The transition impact potential of the project is built around the following elements:

1. Preparation of KB for full privatisation by upgrading its key business and control functions and strengthening corporate governance. The project, through an institution building plan, will re-shape the bank’s business and operations in preparation for full privatisation.

2. Facilitation of the transfer of ownership to the private sector through EBRD involvement and conditionality.


The Client

KB is currently Serbia’s third largest bank by assets with a market share of 9.8%. KB is also Serbia’s largest financial institution still majority owned by the State, which directly and indirectly holds 70.0% of the bank’s capital.

KB recorded total assets of EUR 874.0 million and equity of EUR 104.5 million as at December 2005.


EBRD Finance

Acquisition of up to 25% of KB’s capital by subscribing to newly issued shares.

In addition, EBRD will also extend to KB a facility for mortgage finance.


Project Cost


Environmental Impact

KB will carry out its operations in accordance with EBRD's Environmental Procedures for Local Banks. In implementing these procedures, KB will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

EBRD’s equity investment is complemented by an institution building plan. The Canadian government has granted EUR 1.5 million in technical assistance for consultancy services for the implementation of the institution building plan. The technical assistance programme started in September 2006 and will last for two years.

Company Contact

Komercijalna Banka
Svetog Save 14, 11000 Beograd

e-mail: posta@kombank.com

Phone: (381) 11 30 80 100
Fax: (40)-264-407179


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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