Russia’s Expobank interested in Serbian banks, no concrete purchase announcements yet

Russia’s Expobank has expressed interest in entering the Serbian market, but hasn’t filed a formal application to the National Bank of Serbia (NBS) for prior consent to the acquisition of ownership in banks in Serbia, nor has its owner, Igor Kim, the NBS reported on Friday, September 23.

The conditions for the entry to the Serbian banking market are clear and transparent, and the criteria are defined in detail in the NBS internal acts and procedures and there is no room for discretion in the sense of choosing to accept this or that investor, the report states.

The NBS reacted with reference to media writings that Igor Kim, a businessman close to Vladimir Putin, is interested in buying one of the banks in Serbia. According to the media, there is no agreement at the top of the NBS about whether Kim should get consent for the acquisition of ownership in a Serbian bank.

The media write that Igor Kim, who was penalized in 2011 for violating the EU competition law, is known for the fact that his banks do not give corporate and retail loans, but deal with securities instead.

The NBS emphasized that it supported the entry of reputable and creditworthy investors into the Serbian banking market, provided that they met the required conditions, regardless of their country of origin.

Narodna banka Srbije Beograd

Expobank Russia

National Bank of Serbia

NBS

Igor Kim

Vladimir Putin

banks in Serbia