OBS is specialised in microfinance and provides a range of financial services to underserved people and businesses in Serbia, in particular in rural areas. The bank is a member of Opportunity International, a network of banks and microfinance organisations.
The three new investors will each hold a significant minority share in OBS, along with Opportunity International. Each of the four principal shareholders will have a seat on the OBS Supervisory board, which also includes independent directors.
Importantly, all four principal shareholders, including Opportunity International, are members of the Global Alliance for Banking on Values (GABV), an independent network of banks using finance to deliver sustainable economic, social, and environmental development.
Jacco Minnaar, Chair of the Management Board at Triodos Investment Management: “This is a landmark investment as the first joint investment of GABV members into a member bank. We are happy to have initiated and led this consortium and are confident this will catalyse further capital investments by GABV members. This investment demonstrates our confidence and trust that OBS is well-poised to enhance sustainable banking in Serbia. We are looking forward to contributing our knowledge and expertise to support OBS’ long-term strategic development.”
Vladimir Vukotic, Chief Executive Officer of OBS: “Since our founding in 2002, we have been committed to providing financial services to people who are underserved by banks. OBS has achieved substantial market shares in Serbia by financing farmers and entrepreneurs, while at the same time recording financial returns among the highest of all Serbian banks. What makes us especially proud is that 45% of our new loan clients are first time banking clients, and 75% of our loan clients are from underserved rural areas of Serbia. We are delighted to welcome Triodos Investment Management, GLS Bank, and UmweltBank, who will support our efforts in achieving social impact, provide additional strength to OBS, and help us in develop green finance programs.”
Read the press release.