02 Aug JPM advises VTB Bank on the sale of its business in Serbia
VTB Bank has finalised the sale of 100% of its stake in VTB Banka a.d. Beograd to AZRS Invest doo Beograd.
JPM provided full legal support to VTB on the divestment. The JPM team advising VTB on the transaction included Senior Partner Nenad Popović, Partner Nikola Poznanović and Senior Associate Bojana Javorić.
VTB has been operating in the Serbian market since 2008, has a total of 72 employees and owns two branch offices (in Belgrade and Novi Sad).
In the first six months of 2018, VTB Banka a.d. Beograd realized a profit of RSD 60.5 million, whereas the bank’s total assets currently amount to RSD 13,401.3 million.