BELGRADE Aug 12 The Serbian arm of France's
Societe Generale said it took over the 126 million
euros ($168 million) credit portfolio of a local unit of Belgian
banking and insurance group KBC, as part of an April
Under the April 26 deal, Societe Generale Srbija, the
country's fourth largest lender, took over KBC Banka's portfolio
of 81,000 clients, while the Serbian arm of Telenor
took over all its shares, thus securing a banking licence.
So far about 25,000 clients of KBC Banka have transferred
their accounts to Societe Generale, and the remainder have to do
so by the end of October, the bank said in a statement.
According to central bank data, Societe Generale Srbija's
assets stood at 202.9 billion dinars ($2.4 billion) last year.
In 2012, the KBC Banka accumulated a loss of 2.24 billion
dinars ($26 million), while its assets stood at 29 billion
dinars and capital at 3.4 billion dinars.
($1 = 0.7490 euros)
(Reporting by Aleksandar Vasovic; editing by Keiron Henderson)