Komercijalna Banka: Selling Serbia’s sleeping beauty

Komercijalna Banka was in urgent need of modernization ahead of a planned privatization – enter Alexander Picker, an Austrian who has made a career of bringing socialist-era lenders into the 21st century.

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Alexander Picker, Komercijalna Banka

When Alexander Picker took over as head of Serbian state-owned lender Komercijalna Banka, he expected to find a “sleeping beauty”. Eighteen months on, he says: “She’s still a little sleepy – but at least we’re sure she’s a beauty”. 

Picker’s remit was to prepare this slumbering institution for privatization by tackling the bad debts weighing on its balance sheet and devising a new business model suited to a digital era – or, as he puts it, “cleaning up the past and building the future”.

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