History

Komercijalno Investiciona Banka AD Kumanovo (now Stater Banka) was founded in 1955. At the beginning it functioned covering the region of the city Kumanovo, and on January 1st 1973 it transformed into branch of Stopanska Banka AD Skopje.

On January 31st 1990 Stopanska Banka AD Skopje was founded, and Stopanska Banka AD Kumanovo became its branch office. On June 15th 1995 this branch office, as a result of the transformation of the banking system in Macedonia,  got separated from Stopanska Banka AD Skopje.

At the end of year 2007, Milestone bought 75,9% of the common stocks of the bank, and after the successful acquisition, the Assembly made a decision for a new emission of common stocks for a known buyer, in order to raise the capital to the capital to the required capital census for conducting all banking activities. In April 2009 all 215.000 stocks were bought by Milestone, which paid 369.800.00 MKD, Milestone’s share in the shareholders structure rose to 90,98%.
Beside raising the equity of the bank, Milestone and the management of the bank conducted wide spread of measures in order to restructure the bank through widening the range of products and services that will be offered to the clients, initializing reasonable and well structured system for risk management, implementing an IT system and spreading the branch network in Macedonia. Milestone also improved the work of the managing bodies of Stater Banka, committed changes in the organizational structure, initiated continuing training for the employees, applied new policies and procedures and brought a new and wide marketing mix which will enable Stater Banka to achieve reasonable results for its shareholders.