Two Kosovo banks to merge

Prishtina, 25 May 2007 – Nova Lubljanska Banka (NLB) of Slovenia, after buying 51.14 % of shares of Kasabank and 77.75 % of shares of Banka e Re e Kosoves (BRK) is planning to merge the 2 Kosovar banks and establish a new one. Officials of NLB confirmed the merge of two banks. According to them, the banks merged into one will have 18% of the banking market in Kosovo.

According to Kosovar media, NLB is discussing a new name for the new institution. Out of three options, NLB–Kosova is the most probable.

The spokesperson of the Central Banking Authority of Kosovo (CBAK), Shkendije Himaj, explained that several steps need to be undertaken before the merging can take place. “According to our regulation, banks are obligated to submit a request for merger to CBAK, which has to be reviewed and approved”, said Himaj.