Funds for flat purchase are coming - IFC approves a loan of EUR 15 m to Komercijalna banka

The International Financial Corporation, IFC, a member of the World Bank Group, approved a loan of EUR 15 m to Komercijalna banka as a support for further crediting in the segment of flat loans so that their availability to real estate buyers in Serbia would increase, Komercijalna banka has announced today.

The loan will further strengthen strategic partnership with IFC, the head of the Financial Institutions Department at Komercijalna banka, Mihajlo Kosanovic, says

- Additional credit potential is a serious starting point to support our clients’ needs in, for them possibly the most important one, relations with banks, in more quality and important way.

Komercijalna banka, the largest state-owned bank in Serbia and second in size at the market has been cooperating with IFC since 2009.

Then, IFC Capitalization Fund, as it was stated, poured EUR 40,2 m in replaceable preferential shares. The investment was a part of the finance package of EUR 120 m, provided by international financial institutions (EBRD, DEG and SwedFund).

In late 2011, IFC approved to Komercijalna banka a loan of EUR 50 m as an incentive to further growth of the bank, it was stated in the announcement.

- New loan to Komercijalna banka will enable it increase of portfolio of loans for flats and help clients to become owners of flats – Regional Manager for West Balkans IFC, Tomas Lubek, said.

Serbia became a shareholder and a member of IFC 2001 and since that time investments of this organization increased to USD 2,2 billion.