The US bank will receive €250,000 ($246,000) for its work on the deal, plus €1.4m if it gets a price that is 150% of DSK Bank's net assets or more. Kordovska said JP Morgan's application was not the cheapest, but nor was it the most expensive.
ABN Amro came second with 99.9%, CA IB third with 95.6%, Schroder Salomon Smith Barney fourth with 90.1% and Daiwa Securities fifth with 87.5%. After an additional presentation, these five were graded and ranked. She said 12 banks had applied to lead the sale of DSK Bank, and those had been whittled down to a shortlist of five. Cost was the most important element of these, and made up 30% of the overall score according to Nelly Kordovska, executive director of the Bank Consolidation Company, the government body in charge of the sale.
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