Societe Generale Acquires Jubanka’s Credit Portfolio
December, 2017 - Belgrade, Serbia
Karanović & Nikolić advised on Societe Generale Srbija's acquisition of a part of Jubanka's credit portfolio – which included housing and cash credits, credit cards, as well as credits for small and medium-sized enterprises. Societe Generale Srbija is now the third largest bank in Serbia in terms of credit volume.
The Karanović & Nikolić team consisted of Darko Jovanović, Ivan Nonković and Marko Ćulafić. Their services included the due diligence of Jubanka's credit portfolio, work on the transaction documents, with counsel throughout the acquisition and the negotiation process.
Societe Generale Srbija, a wholly owned subsidiary of the French-based Société Générale bank – one of the largest banking groups in Europe, is the oldest foreign bank in Serbia, establishing its Belgrade office in 1977. This transaction is Societe Generale Srbija's second acquisition, after it acquired KBC Bank's client portfolio in 2013.
Jubanka, formerly known as Alfa banka, is owned by AIK banka Beograd – which acquired a 100% of Jubanka's shares in April, 2017. Societe Generale Srbija stated that they will contact Jubanka's clients and offer them all the necessary help and support, in order to enable them the highest quality of service.
