Russians to sell VTB Bank Serbia

The owners of VTB Bank, the second biggest bank in Russia, will sell their operations in Serbia, Blic reports.

As they say, there are two serious candidates for the purchase.

Two banks, foreign-owned and already present in the Serbian market, are interested. Talks between representatives of VTB Bank Russia and potential purchasers are in progress, and the process is expected to be completed in the next few months.

The findings have been confirmed to Blic by the National Bank of Serbia as well.

Governor Jorgovanka Tabakovic says for the newspaper that several purchasers are interested.

– No one has officially applied yet. I can only say that these are very serious potential purchasers – Tabakovic said.

According to her, until one of them officially confirms the interest in the purchase, the NBS will not publically disclose the names of the banks.

VTB Bank arrived to Serbia in 2013, when it took over the Bank of Moscow, which started operating in Serbia back in 2008 as the first bank in Serbia operating with Russian capital. VTB Bank has a minimal share in Serbia’s market. According to the NBS report, it ended 2016 with a loss of around RSD 810 million.

In addition to the Serbian branch, VTB Group is also selling its banks in Ukraine and France.

VTB Capital Rusija

Narodna banka Srbije Beograd

Api bank ad Beograd

VTB Capital Russia

VTB Group

VTB Bank

sale of VTB Bank Serbia

NBS

Jorgovanka Tabakovic

Bank of Moscow