Nlb Banka a.d. (Bosnia and Herzegovina)

Bosnia-based NLB Razvojna banka AD began operations as a state-owned bank in 1998 under the name Razvojna Banka. In August 2002, the Bosnian Serb government sold an 80% stake in Razvojna Banka to the Bank of Southeast Europe for KM 1.6 million and in September the same year the bank was renamed to Razvojna Banka Jugoistocne Evrope (Development Bank of Southeast Europe). In August 2005, Slovenia's largest bank by assets, Nova Ljubljanska Banka (NLB), signed a deal to buy 92.3% in Razvojna Banka Jugoistocne Evrope for an undisclosed sum. NLB, which at the end of 2010 was 30.6% owned by Belgian banking group KBC and 33.1% owned by the Republic of Slovenia, already controlled one bank in the Bosnian Serb Republic - LHB Banka. In April 2006, NLB merged LHB Banka and Razvojna Banka Jugoistocne Evrope to form NLB Razvojna Banka AD Banja Luka. NLB Razvojna banka AD operates a network of over 70 branches on the territory of the Republic of Srpska. The bank is OTC traded on the floor of the Banja Luka Stock Exchange (BLSE).