The Securities Commission of the Republic of Srpska (RS) granted the first ever operating licences for conducting custody business to Balkan Investment Bank Banja Luka and Raiffeisen Bank Sarajevo, reports Investitor.ba. Balkan Investment Bank is the first bank from the RS to have received permission to exercise custody over securities.
A spokesperson for Balkan Investment says that this represents an important step in the banks development, as well as in development of investment banking in general. Introduction of the custody business is a strong signal for development of the capital market and the raising of foreign investors confidence into investment prospects in the RS. This permit puts the Balkan Investment Bank among the top players on the capital market.
Custody business will directly affect the development of this banks brokerage operations. In addition to this service, Balkan Investment Bank is currently in the process of introducing other services in line with those on more developed financial markets and new products in the area of modern investment banking.