NLB banka Podgorica and Komercijalna banka Podgorica successfully merged

November 15, 2021

After a successful operational merger over the weekend, NLB banka Podgorica and Komercijalna banka Podgorica are now one bank. The technical merger of the two banks, as well as the transfer of clients and the entire Komercijalna banka system under the auspices of NLB was completed smoothly and in accordance with the detailed plan and preparations made by the teams of both banks in the last months. This, however, is only the first integration of a bank from Komercijalna banka group to NLB Group – the Group is namely preparing for an even more extensive integration of banks in Serbia, scheduled for the end of April next year.

“It is difficult to express how enormously happy and proud we are of our team that has successfully completed this extremely demanding process without any ‘hiccups’, therefore setting a strong example of how this type of operation is done,” emphasized NLB’s CEO Blaž Brodnjak. He added: “You will notice that I am speaking of one team and indeed the colleagues from NLB banka and Komercijalna banka have been working hard and dedicated as one for the past nine months. We are, however, happy, that at last they will also be working together under ‘one roof’ and strong NLB brand.” 

“We are very proud of all our colleagues who have been working tirelessly for the past months and especially during the nearly five-day merger operation. From the very beginning our goal was not only to securely connect the two information systems, but to compete the process with the highest degree of transparency for both our new employees and our clients, whom we wish a warm welcome,” pointed out CEO of NLB Banka Podgorica Martin Leberle as the process was completed. Above all we will continue to work hard to offer our clients the best services and user experience, he added and cited improved e- and m-banking solution NLB Klik as the first example of the merger and synergy amongst the two banks.

After the merger, the total assets of NLB banka Podgorica amount to over EUR 700 million. The loan portfolio has increased by 20% and now amounts to over EUR 500 million. The now combined bank has gained additional 27.000 retail clients, as well as 3 new branches in Podgorica, Budva and Kotor and now has a total of 22 branches.

“This merger is important milestone, yet on the other hand just one of the steps in our vision to becoming the regional champion – the bank of choice for our clients,” added NLB’s CEO Blaž Brodnjak. “Banks in the NLB Group will successfully grow and increase market shares organically, however, we are closely monitoring developments in our home region, South-eastern Europe, and would not shy away from analysing and addressing eventual value accretive opportunities also for the M&A-based growth. The best for the NLB Group is yet to come,” he emphasized.   

NLB Communications

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