Miroljub Aleksic to buy Jubmes Bank?

The banking market of Serbia has been quite turbulent in the past days. After the announced exit of the Russians from VTB Bank and the search for a buyer, Jubmes Bank is also being sold, Blic learns.

According to two sources, one from the local stock market, the other from business circles, businessman Miroljub Aleksic, owner of Alco Group, is interested in Jubmes Bank.

The state has the biggest share in the bank (20.1%), followed by Beobanka in bankruptcy (6.6%) and the Socialist Federal Republic of Yugoslavia (5.33%), as the shares have not been distributed since the breakup of Yugoslavia.

Alfa Plam, a member of Alco Group, is in the fourth place with a 4.99% stock. It’s interesting to note that three companies, among them brokerage firms registered outside Serbia, even in so-called tax havens, have shares of 3-4% in the bank.

According to Blic’s information, Jubmes Bank’s shares have been traded a lot at the Belgrade Stock Exchange since the beginning of the year, with the price rising from RSD 3,700 in October 2016 to the current RSD 5,500.

– Buying Jubmes Bank is not that easy, as the ownership is pretty compartmentalized. There are plenty small shareholders. There’s also the question of why anyone would bother with a bank which has less than a third of a percent of the market. Nevertheless, Aleksic is the closest to being the purchaser, as he controls more than 10% of the shares directly or indirectly – Blic source says and adds that this is done precisely through shareholders registered abroad, which have less than 5% of the ownership.

Aleksic has already tried his hand in the field of banking. In 1996, he founded Alco Bank, but he sold it to the Belgian KBC Bank in 2007.

Alta banka ad Beograd

Alco group d.o.o. Beograd

Api bank ad Beograd

VTB Capital Rusija

Beobanka a.d. Beograd

Alfa-Plam doo Vranje

Yettel Bank ad Beograd

Beogradska berza a.d. Beograd

Jubmes Bank

Alco Group

VTB Bank

Miroljub Aleksic

Jubmes Bank shares

Beobanka

SFRY

Alfa Plam

Belgrade Stock Exchange

Alco Bank

KBC Bank