ZAGREB, Dec 30 (Reuters) - Slovenia’s largest bank, NLB , said on Wednesday it had completed its acquisition of an 83.2% stake in Serbia’s Komercijalna Banka.
The deal was worth 394.7 million euros ($485 million).
It makes NLB the third biggest player in the Serbian banking market with a market share of some 12%, the lender said in a statement.
The deal also strengthens NLB’s position in Bosnia and Montenegro, where Komercijalna Banka owns a local bank in each country.
NLB operates in Slovenia, Serbia, Bosnia, Kosovo, North Macedonia and Montenegro.
The Slovenian state controls 25% of NLB.
$1 = 0.8145 euros Reporting by Igor Ilic; editing by Jason Neely