Serbia

Niska Banka

An EMIS Company Report EMIS is a Euromoney Institutional Investor plc company USD 9.95 Industry: Finance and Insurance Available in: English Format: PDF Download Buy full report

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Contact Information

Headquarters
28a, Nikole Pasica Str.
Nis; Nisava; Map
Postal Code: 18000

Tel: (+381 18) 524 , 524
Fax: (+381 18) 497 , 354

Email:
@niskabanka.co.yu

Website:
http://www.niskabanka.co.yu

Company Description
Niska Banka is the legal successor of the Niska akcionarska stedionica, the first private banking organisation in the eastern town of Nis, which was founded in 1884.
The bank, which changed its names several times in its 120-year history, had 28 branches in Serbia and some 80,000 clients at the end of 2006.
Niska Banka assets totalled RSD 3.540 billion at the end of 2006 and its equity was at RSD 1.349 billion.
In January 2002, Niska Banka took over two local banks, Prokupacka Banka and Vranjska Banka as part of the restructuring program for Serbia's banking system.
Niska is one of 16 Serbian banks in which the state acquired a large stake in the summer of 2002 when the central bank decided to swap their debts to foreign sovereign and commercial lenders into state-held equity.
The state acquired a 100% stake in the bank via the swap.
In mid-November 2004, Niska Banka took over the local Pirotska banka a.d. Pirot, which was undergoing an insolvency procedure and had assets of CSD 344 million at end-September 2004.
Serbian authorities launched in end-January 2005 a tender for the 99.89% state-owned stake in Niska Banka, inviting investors to express interest by March 31.
Four banks placed pre-qualification bids in the tender - Austrian Erste Bank, Slovenian Nova Ljubljanska Banka (NLB), Hungarian OTP Bank and Bulgaria's First Investment Bank.
In late December 2005, OTP Bank won the bidding to buy 89.39% stake in the Serbian bank. The deal was completed in March 2006. OTP owned a 99.95 stake in the bank as at March 2007.
In May 2007, OTP Bank merged its three Serbian units - Niska, Kulska and Zepter banks, into a single entity called OTP Banka Srbija.
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