A total of EUR 620-680 m for 83% stake at Komercijalna banka

Ownership stake at Komercijalna banka which is under hammer (app. 83% shares) could bring sellers between EUR 620-680 m, analysts of Novi Sad-based Erste bank, Mladen Dodig said for SeeNews.

- Having in mind current evaluations in the region and potential premium which sellers should expect, we estimate this transaction to EUR 620 - 680 m, which is 1,1 - 1,2 times higher than the bank capital at the end of June– Dodig said.

He, however, warned that if transaction is implemented in 2017, estimation could differ a lot.

Although financial results of Komercijalna banka in the first six months have not been good, Dodig at this moment does not see it will have negative effect on sales.

In his opinion, chances for takeover of Komercijalna banka are slightly in favor of the existing players at the local market but it does not exclude arrival of the new bank which wants to be present at the CEE market WiseBroker portal reports.