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NLB to come into possession of Komercijalna Banka in third or fourth quarter of 2020
Source: Beta
Monday, 02.03.2020.
13:25
Monday, 02.03.2020.
13:25
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The talks about the purchase of Komercijalna Banka were very demanding and complex, but fair, the head of Nova Ljubljanska Banka (NLB), Blaz Brodnjak said in an interview for Blic.
– We must thank the team of the Ministry of Finance for a transparent and very professional sales procedure. We were able to carry out due diligence, whereas the talks were very demanding and complex, but fair – said the president of the NLB board.
He added that he believed that the sales and purchase price of EUR 387.02 million for 83.23% of the capital of Komercijalna Banka was fair for both sides and that he hoped that NLB would come into possession of the Serbian bank in the third or the fourth quarter of 2020.
– In forming the price, we took the standard approach and used standard methodologies in evaluating a commercial bank. Of, course, we also used our knowledge of the specific circumstances and challenges of the market itself, because we are already doing business here – Brodnjak said.
He added that, when doing a detailed analysis, they recognized great potential for increasing the activities with retail clients and the SME sector.
When asked what the plan was for the employees at Komercijalna Banka, of which there are around 3,000, he said that it was too soon to speak, given the complexity of the situation.
– Digitization is redefining the entire financial industry, standard transaction services are moving to mobile apps, with a 24h video channel support. On the other hand, at branch offices, we talk to clients about more complex services with long-term consequences, such as housing solutions, assets management, long-term savings etc. This means that fewer people will work in traditional offices on routine transactions, but that opens the possibility for working in contact centers, on platform and channel development, or the development of models for learning more about the clients, enabling us to be there for them at the right time in the right place with the right solutions – Brodnjak said.
– We must thank the team of the Ministry of Finance for a transparent and very professional sales procedure. We were able to carry out due diligence, whereas the talks were very demanding and complex, but fair – said the president of the NLB board.
He added that he believed that the sales and purchase price of EUR 387.02 million for 83.23% of the capital of Komercijalna Banka was fair for both sides and that he hoped that NLB would come into possession of the Serbian bank in the third or the fourth quarter of 2020.
– In forming the price, we took the standard approach and used standard methodologies in evaluating a commercial bank. Of, course, we also used our knowledge of the specific circumstances and challenges of the market itself, because we are already doing business here – Brodnjak said.
He added that, when doing a detailed analysis, they recognized great potential for increasing the activities with retail clients and the SME sector.
When asked what the plan was for the employees at Komercijalna Banka, of which there are around 3,000, he said that it was too soon to speak, given the complexity of the situation.
– Digitization is redefining the entire financial industry, standard transaction services are moving to mobile apps, with a 24h video channel support. On the other hand, at branch offices, we talk to clients about more complex services with long-term consequences, such as housing solutions, assets management, long-term savings etc. This means that fewer people will work in traditional offices on routine transactions, but that opens the possibility for working in contact centers, on platform and channel development, or the development of models for learning more about the clients, enabling us to be there for them at the right time in the right place with the right solutions – Brodnjak said.
Companies:
Nova Ljubljanska banka d.d. Ljubljana
NLB Komercijalna banka AD Beograd
Ministarstvo finansija Republike Srbije
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