Societe Generale gives up on RBV acquisition

The procedure for taking over Razvojna Banka Vojvodine (RBV - Development Bank of Vojvodina) should be completed in about ten days, after going on for more than three months. According to the Novi Sad Dnevnik daily newspaper, out of five financial companies that allegedly expressed interest in December, there is only one left.

The latest company to definitely give up the RBV acquisition is Societe Generale Bank.

There is no official information about who could take over RBV in the end, but experts believe that the most realistic option is to let RBV be acquired by one of the banks majority owned by the state, and that is the last chance. If this fails to happen, bankruptcy or liquidation will be the next step. Our financial market is part of the European market where rules are clear and no bank can operate for some time without having an appropriate capital adequacy ratio.