The Serbian Competition Commission has approved Direktna Banka from Kragujevac taking over Piraeus Bank Belgrade, while OTP Bank is confirmed as the new owner of Vojvodjanska Banka.
In mid-October, this year, Direktna Banka signed an agreement stipulating the takeover of the Serbian branch of Piraeus Bank. According to the agreement, the takeover should be finalized by the end of Q1 of 2018, once all the approvals of the relevant bodies have been acquired.
After the takeover, Direktna Banka will have around 60 branch offices and over 800 employees in Serbia, with its assets amounting to a half a billion euros. Direktna Bank is owned by businessmen Andrej Jovanovic (49.9% stake) and Bojan Milovanovic (49.98% stake), and it was founded in early 2016 when Nova Kreditna Banka from Maribor acquired Kragujevac-based KBM Banka. The same bank also bought Findomestic Bank this year.
The Hungarian OTP Bank has completed the financial transaction following which the entire assets of Vojvodjanska Banka are now in the hands of OTP Bank Serbia, the bank announced on 6th December.
OTP Bank Serbia signed a purchase agreement stipulating an acquisition of Vojvodjanska Banka from the National Bank of Greece, worth EUR 125 million, in early August. Asa result of the takeover, the market share of OTP Bank Serbia will increase to 5.7%, making it the seventh biggest bank in the Serbian market.
(Kamatica, eKapija, 07.12.2017)
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