The Deputy Governor of the National Bank of Serbia says that the state can be confirmed as the responsible owner of Commercial Bank

The state can be confirmed as a responsible owner of Commercial Bank, as it has been responsible for managing public finances for years, and that privatization of Commercial Bank does not have to be carried out at all costs, Vice Governor of the National Bank of Serbia (NBS) Zeljko Jovic said in an interview with Biz Magazine.
From the standpoint of the NBS, there is no need to fall into the trap that the privatization process of Commercial Bank must be carried out at all costs, especially given its size and importance in the banking sector, Jovic said.
He added that, after the state regained majority ownership of the bank’s capital, the conditions for the management of this financial institution were “confirmed by the state as a responsible owner, as in the previous period it conscientiously and responsibly managed public finances”.
“The takeover of the dominant stake in Commercial Bank (83.2%) eliminated obstacles to effective management, which resulted from specific decision-making conditions foreseen in the Shareholders Agreement, which was concluded with the international financial institutions in the 2006 privatization of the bank”, said Vice Governor Jovic.
Jovic pointed to the NBS’s primary competence to conduct the assessment of the business reputation of the bank owner, and that in the process it did not distinguish between privately or state-owned entities, foreign or domestic.
From the NBS point of view, the commitment of the bank owner to quality corporate governance, whether privately or privately owned, is essential. This is achieved by providing professional management, Jovic pointed out.
The NBS Vice Governor also pointed out that the largest individual owner of Nova Ljubljanska banka, a potential investor in the privatization process of Commercial Bank, remains the Republic of Slovenia, Kurir writes.