Russian VTB Bank leaving Serbia

The Supervisory Board of VTB Bank has reached the decision to sell 7.3 million shares amounting to 100% of its capital in its Serbian branch VTB banka a.d. Beograd, the bank says in a press release.

– VTB sells 100% of the bank's ordinary shares (7,344,813 shares) with a par value of 500 Serbian dinars each. The transaction should be conducted at a price not lower than the market value determined by the appraiser – the press release says.

VTB Chairman Andrei Kostin announced back in 2016 that the bank intended to sell its branch in Serbia. He emphasized at the time that both foreign and Russian investors were interested in the purchase. Kostin estimated the bank's worth at EUR 10 million at the time.

VTB Capital Rusija

Api bank ad Beograd

Andrei Kostin

sale of VTB Bank