Invest in shares of your favourite companies

Security Trading Shares

  • Use the possibility of profiting from the price difference - capital gains
  • Receive a dividend Possibility of receiving a part of the profit of the company whose shares you own
  • Become one of the owners of the company whose shares you own
  • Enjoy low transaction costs
  • We offer you the support of authorised brokers with long-term experience

Where and how to trade in shares?

  • Buy/sell quickly and easily through an authorised broker
  • Buy/sell shares at Belgrade Stock Exchange
  • Stock exchange trading is executed in accordance with the terms and rules of the Belgrade Stock Exchange
  • Become the owner of shares whether you are a domestic or foreign, legal entity or individual
  • For the delivery of trading orders, you need to sign a Broker Operations Agreement with the Bank
  • Deliver orders on every business day, directly at any branch of the Bank, or via e-mail

About shares

Shares are equity instruments issued by a joint-stock company.

Who is a shareholder? A shareholder is the owner of shares who can exercise significant rights arising from the shares owned.  

Which rights can be exercised by a shareholder? Depending on the type of shares, a shareholder may exercise the following rights:

  • right to a part of profit (dividend) of the joint-stock company
  • right to the assets of the joint-stock company in case of bankruptcy
  • control right which consists of voting rights and management rights in the joint-stock company
  • pre-emption right in case of a new issue of shares
  • right to review basic business results of the joint-stock company
  • right to transfer the shares and to sell them freely

When a joint-stock company is established, it is necessary to issue the founders' first issue of shares (founder's shares). Why do joint-stock companies issue new issues of shares?
The purpose of each new issue of shares, after the first, founders' issue, is to increase capital - recapitalise such joint-stock company (new shares).

These shares are deposited in suspense accounts of shareholders with the Central Securities Depository, but for a shareholder to dispose his/her shares and exercise the rights arising from them, he/she must select his/her broker who will open a securities account with the Central Securities Depository on the behalf of the shareholder and transfer the shares from the suspense to the shareholder's account.

What does it mean that my shares are paperless?
That means that they are issued, transferred and recorded in electronic form in the information system of Central Securities Depository, in accordance with the regulations of that institution, rather than in paper-based form.

What should I do in order to buy or sell shares?
In order to trade in shares, you need to contact your broker, who will deliver an order for securities trading at the Belgrade Stock Exchange in your name and for your account, as a member of Belgrade Stock Exchange.



A dividend is the yield which a shareholder generates as the owner of a share.The joint-stock company has the discretion to decide on whether it will pay the dividend, its value and the time of payment depending on how successfully such joint-stock company has operated and what their policy regarding the payment of dividends is.

Can I generate other earnings as a shareholder?
A shareholder may also generate capital gains (the difference between the price at which the shares were acquired and the price at which they were disposed of/sold), due to the growth of market price.



The two main types of shares are common and preferred (priority or preference).  

What are the differences between these two types of shares for the shareholder?

Common shares represent the owner's position in the company, afford their owners the control right and disbursement of income after the settlement of liabilities towards the owners of bonds and preferred shares. The treatment is similar in case of bankruptcy or liquidation of the company. The existence of several classes of common shares implies that there are differences between them in terms of voting rights, i.e. control rights, as well as in terms of profit and risk.

Preferred shares also represent the part of ownership over the joint-stock company, but their owners usually do not exercise the control right. In return, the owners of preferred shares are guaranteed a fixed dividend and preferential treatment in terms of its payment. Also, the owners of preferred shares have a priority in terms of the settlement of liabilities in case of bankruptcy or liquidation of the joint-stock company.



When a joint-stock company issues the founders' first issue of shares, they have a nominal value at which they are calculated. In other words, that is their amount at which they are first issued.

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