Only those who are in urgent need for money sell AIK bank shares

After Greek Piraeus Bank took over healthy assets of ATE Bank which has owns a one-fifth stake in local AIK Bank, Novi Sad magazine, Dnevnik, considers potential consequences for our market.

An interlocutor for this newspaper, Dr Stevan Sogorov, points out that " Serbian Piraeus Bank will not automatically become the owner of shares ATE has in AIK, but authorized agents from domestic field should carry it out so that something would happen."

On the other hand, a member of the Executive Board in AIK Bank, Dr Djordje Djukic said AIK is the most capitalized company in Serbia and has the highest capital adequacy ratio - over 30% while the average of the banking sector of Serbia is 19.

- AIK runs very conservative policy as reflected in high reservation which has to exposure to credit and other risks. This is carried out at the cost of presenting lower profit. This way we just avoid every possible shock which could surprise the Administration pleasantly - Djukic said.

Dukic explained the best proof of this policy is the fact that big global investment funds do not sell shares of AIK but they keep them in their portfolio because they generate profit. As an example, he is pointing out Templeton fund, mentioning that not even ATE would alienate them if it did not have to-they have been in their possession for years and have always brought dividends and improved and consolidated balance sheet.

- We are the only bank whose shares actively and mostly traded in at the Belgrade Stock Exchange. Only those who must sell them because they are in urgent need for money – Djukic says.

AIK Bank has recently announced 1H2012 during which it generated gross result of RSD 2 bn which is double in comparison to the same period 2011.