AIK Banka wants to enter Warsaw Stock Exchange

Nis-based AIK Banka is preparing to enter a foreign capital market, most probably the Warsaw Stock Exchange, which is a reference for the markets of Central and Southeast Europe and represents a stock exchange with high turnover and liquidity.

This information has been confirmed to Pregled daily by Dejan Tesic, a member of AIK Banka's Executive Board, who also explained that the bank's management had not been satisfied with the performance on the Belgrade Stock Exchange over the previous two years.

- We think that the Belgrade Stock Exchange does not value AIK Banka in the right way, which is why the shareholders' assembly has made a decision to buy out its own shares - Tesic said and specified that "RSD 750 million have been set aside from the profit for the acquisition of about 4 percent of shares."

He added he believed the listing on the Warsaw Stock Exchange would assign a more realistic value to the bank and contribute to an increase in the value of AIK Banka's shares.

Tesic reiterated that ATE Bank was going to sell its stake in AIK Banka, adding that "its place can be taken by a new foreign partner."

Tesic recently said in an interview for Politika daily that AIK Banka should fulfill the revised business plan for the year 2011, meaning that it might register a RSD 4 billion profit before taxation.