Belgrade, 29 November 2018 - Expobank JSC Belgrade, a subsidiary of Expobank CZ a.s. from the Czech Republic, has changed its ownership in favour of Mr. Igor Kim, a major shareholder in the Expobank Group.
Mr. Kim stated that “The ownership structure of Expobank JSC Belgrade is fully transparent and complies with international business standards. Expobank JSC Belgrade is the center of our business activities in the region and brings together partners from Serbia, Czechia and Russia in order to increase economic cooperation in these markets. The change of ownership is in line with Expobank's international development strategy and aims to improve corporate governance of the group which leads to better awareness, operational efficiency and to better service for our clients“.
Expobank’s positive financial result in 2017 has been attained from organizational changes and a revised business strategy and the positive results continue in 2018. Expobank is focused on financing medium enterprises oriented towards exporting to Russia and the EU and cooperation with international financial institutions in order to attract funds for crediting local business.
Expobank will continue to operate under the same brand name and management team who is focused on improving the range and quality of services and client satisfaction.
About Igor Kim
Igor Kim, is an international investor in banking and financial services with assets in the Czech Republic, Russia and Serbia. Mr. Kim has completed a large number of M&A transactions, and has worked with international financial institutions such as the EBRD, IFC, and KfW Bankengruppe. He has completed successful acquisitions from international banking groups including Barclays, RBS, LBBW, WestLB, Morgan Stanley and Santander.
Profile of Expobank JSC Belgrade
Expobank JSC Belgrade has been present in the Serbian market since 1990.
The bank has been operating under the brand Expobank JSC Belgrade since June 2017, since Expobank CZ, took over Marfin Bank JSC Belgrade on 28 February 2017.
Expobank JSC Belgrade has 6 branches in 5 cities (Belgrade, Novi Sad, Šabac, Čačak, Niš) and 159 employees. The bank has total assets of over EUR 142,6 million and capital of over EUR 32 million, with a capital adequacy ratio of 31,03%.