NBS grants preliminary founding permit to Bank of China in Serbia

The Executive Board of the National Bank of Serbia adopted a decision to grant the preliminary founding permit to a bank that will operate in the Republic of Serbia under the name Bank of China Srbija a.d. Beograd on Friday, November 18.

The preliminary permit marks the completion of the first stage in the process of setting up a bank, the NBS reported.

In the second stage of the process, the NBS will issue an operating license to the bank, based on the application which the bank founder needs to submit within 60 days of the date of receipt of the preliminary permit.

Upon obtaining the preliminary permit, the founder will carry out activities on behalf of the applicant bank that pertain to the fulfillment of requirements necessary to obtain the operating license and to be entered in the register of business entities in the Republic of Serbia.

The NBS says that the bank can then start regular operation in the territory of the Republic of Serbia.

The owner of the bank’s founder – Bank of China Hungary Close Ltd, from Hungary – is Bank of China Ltd, from China, which is one of the top five banks in terms of the value of its market transactions.

The bank in Serbia is set to be the hub for the Balkans and Eastern and Western Europe.

NARODNA BANKA KINE Peking

Narodna banka Srbije Beograd

Bank of China Srbija a.d. Beograd

Bank of China Srbija

NBS

Bank of China Hungary Close Ltd

Bank of China Ltd China