NLB Komercijalna banka
| Company type | Joint-stock company |
|---|---|
| Industry | Banking |
| Founded | December 1, 1970 in Belgrade, Serbia |
| Headquarters | Belgrade , Serbia |
Area served | Serbia, Montenegro, Bosnia and Herzegovina, North Macedonia |
| Products | Banking services, leasing |
| Owner | NLB Group (wholly owned subsidiary) |
Number of employees | 2,745 (2021) |
| Parent | NLB Group |
NLB Komercijalna banka (officially registered as NLB Komercijalna banka a.d. Beograd) is a banking institution in Serbia, established in 1970 and headquartered in Belgrade. The bank operates as a wholly owned subsidiary of the Slovenian NLB Group.
History
The bank was originally founded on 1 December 1970 in Belgrade, then part of SFR Yugoslavia. It transitioned into a joint-stock company in 1992, with the Government of Serbia holding the majority of shares. In 2002, it broadened its regional presence by launching Komercijalna banka Budva in Montenegro and managing a subsidiary based in Banja Luka, Bosnia and Herzegovina.
As of December 2014, the principal shareholders were the Government of Serbia with 42.6% ownership and the European Bank for Reconstruction and Development (EBRD) holding 25%. Although the government intended to divest its shares starting in 2017, the privatization process faced several postponements. Instead, between 2019 and 2020, the government increased its stake beyond 83% by purchasing shares from DEG, Swedfund International, EBRD, and the International Finance Corporation for an aggregate sum exceeding €260 million.
On 26 February 2020, Slovenian NLB Group acquired an 83.23% shareholding for €387 million. By September 2021, NLB Group's ownership had risen to 88.28%. Following privatization efforts, Komercijalna banka became integrated into NLB Group by the close of 2020. Subsequently, on 29 April 2022, it merged with NLB Banka a.d., adopting the name NLB Komercijalna banka. The bank exited the Belgrade Stock Exchange in August 2022.
In 2023, NLB Komercijalna banka enhanced its leasing operations by purchasing Summit Leasing, Slovenia’s largest leasing firm, through its parent company SLS Holdco. Furthermore, one of its subsidiaries acquired a controlling interest in Generali Investment based in North Macedonia. In November 2023, it secured a €2 million financing facility from EBRD to support private homeowners’ environmentally friendly projects in Montenegro. It was also announced in December 2023 that NLB Komercijalna banka will cease branch operations within the contested region of Kosovo starting February 2024.
Market and financial data
In the year 2021, the bank employed a workforce of 2,745 individuals and achieved a net profit amounting to €23.60 million, demonstrating consistent financial stability and operational capacity.