May 20 (SeeNews) - Serbia's government plans to launch a tender for the sale of its 41.74% shareholding interest in blue-chip lender Komercijalna Banka [BEL:KMBN] at the beginning of June, finance minister Sinisa Mali said on Monday.
"We expect the public call for a strategic partner in the capital of Komercijalna Banka to be made in the beginning of June," Mali said in a video file posted on the YouTube channel of daily Kurir.
The Serbian government is exiting the banking sector and will keep only its ownership of Banka Postanska Stedionica, Mali said at the opening of a digital banking conference in Belgrade.
"On the other hand, the consolidation in the sector is continuing and a large number of small private banks are being acquired by large private lenders," he added.
In February, the finance ministry signed an agreement with a tie-up of French investment bank Lazard Freres, auditing company KPMG and law firm Prica & Partners for the providing of financial advisory services on the privatisation of Komercijalna Banka.
The European Bank for Reconstruction and Development (EBRD) controls 24.43% shareholding interest in Komercijalna Banka. The IFC Capitalization Fund holds a 10.15% stake and the remainder is in the hands of private investors, according to data from the financial statement of Komercijalna Banka for the first quarter of 2019.