Kosovo: two banks merge into one

Prishtina, Kosovo – The merging of the two Kosovar banks “Banka e Re e Kosoves” and “Kasabank” into NLB Prishtina was officially confirmed after Slovenian NLB Group has purchased a majority of shares, reported media in Kosovo.

The leaders of the new financial institution believe that the merging of these two banks will increase the competition in the Kosovar market and make it possible for them to offer the citizens of Kosovo new products. Koha Ditore reports that the Slovenians own 80.39% of the capital while 37 shareholders, including Lesna Company, Eurokoha and MCM own the rest.

Managing Director, Albert Lumezi is quoted as saying that the new entity will begin offering services from the beginning of January. He also informed that the bank has a capital of € 25 million and over 206,000 clients.

According to the broadcast media, the bank already has 16% of the Kosovar market.