On 27 December the Serbian
government, the Ministry of Finance and Economy, and the Deposit Insurance
Agency (Агенција за осигурање депозита) together announced an extension of the
deadline for the submission of expressions of interest for the
recapitalization, merger, or sale of shares of the commercial bank “Privredna
banka a.d. Beograd ” (Привредна банка Београд
а.д. Београд). The original call for
expressions of interest, issued on 10 December, had a deadline of 27 December
at 14:00 , but a renewed call issued on
25 December moved the deadline to 31 December at 12:00 . The extension published today, granted in
order to allow more bidders to participate, moves the deadline to 15 January 2013 at 14:00 .
Privredna Banka
Beograd, founded in 1972 as a branch of Privredna Banka Sarajevo and operating
independently since 1978, as of 31 October was owned by the government of
Serbia (64.80%) and 2,170 minority shareholders. As of 30 September its total assets were 29.325
bln RSD (0.94% of the commercial banking sector in Serbia
Sources:
Original call for expressions of interest: Позив
за достављање Изјаве о заинтересованости (2012-12-10)
Renewed call for expressions of interest: Поновљени јавни
позив за достављање пријава за учешће у поступку избора саветника (2012-12-25)
Unaudited financial statements for 3Q 2012: Nerevidirani
finansijski izveštaj sa 30.09.2012. godine. (2012-10-21)
Financial statements for earlier periods: Биланс
стања и успеха
Recapitalization: Извештај
о битном догађају
In other news, on 25 December the
National Bank of Serbia (Народна банка Србије – NBS) published for the first
time a list of official interest rates – for the Serbian dinar as well as 17
other currencies – that will apply on arrears from borrowers who default on
financial obligations. The publication
of these interest rates by the central bank is mandated by the new Law on the
Default Interest Rate (Закон о затезној камати), which was passed by the
parliament on 15 December, published in the Official Gazette (Службени гласник
Републике Србије, број 119/2012) on 17 December, and entered into force eight days
later on 25 December.
As specified in the
Law, the “interest rate for defaults” is simply equal to the main refinancing
rate used by each central bank (e.g., “reference rate”, “base rate”, “federal
funds rate”) plus 8.00% (800 basis points).
Thus the rate for the Serbian dinar is 19.25% (11.25% + 8%), the rate
for the euro is 8.75% (0.75% + 8%), and the rate for the British pound is 8.50%
(0.50% + 8%).
Sources:
Announcement by NBS: Народна
банка Србије од данас објављује стопе затезне камате (2012-12-25)
Table of official rates published by NBS: Стопе затезне
камате (2012-12-25)
Mark Pleas
[contact]
