May 3 (SeeNews) - Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] has completed the integration process of Belgrade-based Komercijalna Banka [BEL:KMBN], it said.
After obtaining all regulatory licenses, as well as by registering the merger with the Business Registers Agency, the integration process of Komercijalna Banka and NLB, was successfully completed and from April 30, 2022, the Serbian bank operates under the new name NLB Komercijalna banka, NLB said in a filing with the Ljubljana Stock Exchange last week.
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Based on the merger, NLB Komercijalna Banka is its universal the legal successor of Komercijalna Banka, NLB said.
"Banks in the NLB Group will successfully grow and increase market shares organically, however, we are closely monitoring developments in our home region, South-eastern Europe, and would not shy away from analysing and addressing eventual value accretive opportunities also for the M&A-based growth. NLB has the capacity to buy banks and/or portfolios in any of our existing, as well as other markets in the region, thus becoming a true regional champion,” NLB’s CEO Blaz Brodnjak said.
NLB completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($414.7 million) on December 30, 2020, becoming the third-largest banking group in Serbia. In April 2021, NLB lifted its stake in Komercijalna Banka to 88% following the completion of a buyout bid.
($ = 0.951673 euro)
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