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The International Monetary Fund (IMF) wants Serbia to give up its stake in Komercijalna Banka this year, which is the only remaining state property. No, it is not news of it two days ago that the IMF says support the privatization of Komercijalna Banka, although almost identical. It was published only six and a half years ago, in particular, January 25, 2012
Since then, the history of the privatization of Komercijalna Banka has been repeated several times. In January 2012, the IMF even estimated that the Serbian state would not be able to pay 100 million euros to recapitalize the bank, in order to remain its controlling shareholder.
However, the state was able to do this, and Komercijalna Banka last year, the year 2017 has resulted in a pre-tax profit of 61 million euros. and, covering 11% of the domestic banking market, remains the leader in foreign currency savings
Why the European Bank for Reconstruction and Development (EBRD) banks with a share of 24.4% compared in the state of Serbia We have begun talks with the Serbian government on the privatization of the bank to ensure the stability of the banking system in Serbia, said EBR Vice President Alen Piu, at the beginning of June.
On the subject of stability, it is at that time that we have heard so many times the governor of the National Bank of Serbia, Jorgovanka Tabakovic, all supported by the data, that the banking system of the Serbia is stable.
According to analysts of the Forum of Independent Economists Borislav Borovic, it makes sense that the IMF supports the privatization of Komercijalna Banka
"I am sure that they demanded that strictly, but press releases should be safer, it turns out that Serbia is under pressure from the IMF, and it is, "says Borovic.
He notes that under the consultative arrangement of the firm "tutelage", which Serbia has recently agreed with the IMF, we are required in this new package sale of PKB, Resavica, Petrohemija, MSK, but also parts of EPS – speech is, as he says, a beautiful restructuring.
"The IMF only deals with the external liquidity of the debtor State and does not care about it, until the conditions for repayment of debts are met. They should certainly be returned, but not according to the model advocated by the IMF, and it's a quick sell of all that is worthy of protecting the lenders, "Borovic told Sputnik, recalling that Serbia had repaid 1 , $ 4 billion last year.
The interlocutor Sputnik reminds that Komercijalna banka is the second largest bank in Serbia and a very important financial institution at the systemic level. If Komercijalna Banka is now sold, there is no reason not to sell tomorrow Dunav osiguranje or Bank Poštanska štedionica
. "Who manages the country's financial system, virtually manages the country, and it's a miracle that Serbian politicians do not see it.By selling Komercijalna Banka, we will be one of the few, if not the only one, in Europe, with a share of domestic capital in the banks less than 10%, "warns Borovic.It is particularly concerned about the absence of Development State Bank, specialized banks, such as investment, l & rsquo; Agrarian, mortgage … and the rather passive role of the NBS, which is often on the side of the banks, not the economy or the citizens
. The State of Serbia , if it does not agree with the sale of Komercijalna Banka to the minority partners of the budget, will have to pay a sum of 252 million euros, as stipulated by the recapitalization contract badly concluded from this bank 12 years ago. retain its stake, because only last year Komercijalna banka had an income of about 60 million euros. What does the sales argument mean to stabilize the banking system? We and the IMF are convinced that it is stable today like a granite. Not to mention the dangers of profit from the country, because all the banks are doing it now. Or about the moments of crisis that can occur when the state can no longer rely on any bank, "warns Borović.
Professor Dejan Soskic, professor at the Faculty of Economics of Belgrade, believes that The state does not have to sell Komercijalna Banka.Business management of it.The state, as a rule, comes out of these jobs, but this is not necessarily the case.
He says that it is often forgotten that many Western companies and banks also belong to the state and that after the outbreak of the global economic crisis, 2008
He recalls, for example, Germany and its traditional banking model where, not so much the federal government, as the federal states, the co-owners of financial institutions
"Personally, I think that s & It is possible to establish a normal corporate governance and that the state is a propr solid currency that protects the interests of public property and behaves in a market, very often it is not necessary to privatize ".
When asked what the consequences will be for Serbia and its banking system in the absence of any state bank in the event of a new economic crisis, he replied that for a small banking system Like the Serbian, it would be good There is a kind of diversity in the ownership of banks. In this case, they would not be sensitive to certain changes in a power center or part of the global financial market,
which is illustrated by the assessment that all banks of the country would be held by parent banks The EU territories behaved in the same way towards their subsidiaries, so the degree of sensitivity and transfer of the potential crisis of the EU to Serbia would be more high. "I think for the health of the financial system, it is good k Šoškić
Therefore, he would be glad that Serbia also has banks that come from other countries, Russia, China, Turkey He notes however, it is necessary, both in the private and state sectors, to operate domestic banks in accordance with strict principles of corporate governance.
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