Both companies aim to deepen their strategic cooperation

Sberbank Srbija and Telekom Srbija Signed Memorandum of Cooperation

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Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at

Sberbank Srbija and Telekom Srbija Signed Memorandum of Cooperation

On the occasion of the visit of the President of the Russian Federation, Mr. Vladimir Putin, Sberbank Serbia and Telekom Srbija have signed a memorandum of cooperation. The memorandum was initiated by a contract concluded between both companies in December 2018, when Sberbank Europe Group participated in a syndicated loan in the total amount of EUR 77 million, provided to Telekom Srbija. Sberbank Srbija contributed with EUR 25 million to the total loan volume. The investment was part of Telekom Srbija’s "Million +" campaign in order to reach over one million users of its multimedia services and the internet.

Sberbank Srbija and Telekom Srbija Signed Memorandum of Cooperation

"Sberbank Serbia strives to support projects of strategic importance to the citizens of Serbia. A key part of our business strategy is to finance the growth of strong, regional companies such as Telekom Srbija. We are very proud that we have the opportunity to formalize our cooperation and to support Telekom Srbija in achieving its goals", said Marijana Vasilescu, CEO of Sberbank Srbija.

"After the excellent cooperation between Sberbank Srbija and Telekom Srbija Group throughout the last years, we wanted to bring our cooperation to the next level. The memorandum aims an even closer cooperation by the exchange of information and the identification of new investment projects and opportunities, contributing to the development of our economy. We are very much looking forward to extending and expanding our cooperation with Sberbank Srbija", said Predrag Ćulibrk, CEO of Telekom Srbija.

Sberbank Srbija belongs to Sberbank Europe Group. The bank is a unique partner in building bridges between companies in Serbia, Russia and the CIS, offering a comprehensive portfolio of banking services.

Telekom Srbija is the leading provider of telecommunication services in Southeast Europe, with branches in Serbia, Bosnia and Herzegovina and Montenegro. The company is an undisputed leader in the telecommunications market in Serbia with EUR 1.05 billion of consolidated revenue and EUR 125 million of net profit. At the level of the whole group, Telekom Srbija serves around 10 million users of various services (mobile, fixed, internet and multimedia). The Republic of Serbia owns 58% of the share in the company, 20% represents own shares, while about 15% belongs to the citizens of Serbia, and 7% to current and former employees.

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