NLB completes acquisition of Serbian bank

Ljubljana – Nova Ljubljanska Banka (NLB), Slovenia’s largest bank, has completed the acquisition of an 83.2% stake in Komercijalna Banka (KB) in Serbia, a move it describes as a milestone in its strategy of becoming the leading financial institution focused on Southeast Europe. NLB paid EUR 394.7 million for the stake. The bank said on Wednesday it had secured all the regulatory approvals, including approvals from the European Central Bank and the National Bank of Serbia, after signing a share purchase agreement with the Serbian government in February. “We are…

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