The proposal of the Ministry of Finance for state-owned Banka Postanska Stedionica to take over all insured and uninsured deposits and parts of the assets of the majority state-owned Privredna Banka Beograd (ISIN RSPBBBE18575) has been approved by the government.
Folowing the government’s decision, the National Bank of Serbia revoked Privredna Banka Beograd’s operating license on Saturday, 26 October 2013, while its assets and deposits have been transferred to Banka Postanska Stedionica on Monday, 28 October 2013. Privredna Banka Beograd will enter the state of bankruptcy after the expiration of the administration period.
Belgrade Stock Exchange suspended temporarily Privredna banka Beograd’s shares (ISIN RSPBBBE18575) from trading as of Monday, 28 October 2013.
Impact on investors: The National Bank of Serbia revoked Privredna Banka Beograd’s operating license. Deposits and healthy assets of Privredna Banka Beograd have been taken over by state-owned Banka Postanska Stedionica. The trading of shares of Privredna Banka Beograd (ISIN RSPBBBE18575) has been suspended until further notice.
Related news: State to merge Privredna banka Beograd with Banka Postanska Stedionica