Evropa Osiguranje the largest seller of shares of Komercijalna Banka

Last week, the shares of Komercijalna Banka had by far the biggest turnover at the Belgrade Stock Exchange, and almost the entire offer was generated by Evropa Osiguranje in bankruptcy, run by the Deposit Insurance Agency.

Evropa Osiguranje sold over 40,000 shares of the largest state-controlled local bank last week at the level of RSD 1,4000, and its portfolio also contains around half percent of this bank's shares (around 86 thousand).

This insurance company in bankruptcy was one of the largest minority shareholders in the bank several years ago, with over 250,000 shares, reports Wisebroker.

Individually, the largest shareholder in Komercijalna Banka is the state of Serbia, with a 41.7% share, whereas international financial institutions (EBRD, IFC, DEG and Swedfund) together own a similar share. These shareholders have initiated a process for the privatization of the bank, which should be completed no later than 2018.