Russian investor buys Serbian bank

NEWS 26.07.2018 12:10
Source: Shutterstock

Russian investor Andrey Shlyakhovoy has become the new owner of the VTB Bank Belgrade following a transaction given approval by the National Bank of Serbia (NBS), the Beta news agency reported on Thursday citing a VTB bank statement.

The bank statement said that Shlyakhovoy is 30-year banking veteran with a doctorate in economic science.

“The taking over of the VTB Bank is the first step onto the Serbian market for this investor who feels that the market has a significant growth potential not just in terms of continuing and expanding existing business but also in terms of developing and offering new products based on innovative Fintech,” the bank statement added.

VTB Bank Belgrade is a subsidiary of the Russian VTB Bank and has been operating in Serbia since 2008 with branches in Belgrade and Novi sad. The bank reported profits of 60.5 million Dinars (about 500,000 Euros) in the first half of 2018 and has assets totalling 13.4 billion Dinars (about 113 million Euros).