Sitemap

The Agreement For The Merger Of Eurobank a.d.

Apple Becomes First Company To Hit $3 Trillion Market Value, Then Slips

Apple Inc (AAPL.O) on Monday became the first company...

China To Remove Limits On Foreign Investment In Passenger Car Manufacturing

Chinese authorities will allow full foreign ownership...

Russian Court Fines Google, Facebook Over Banned Content

Moscow has accused Google and Facebook's parent...

White Book Presented To Belgrade Chamber Of Commerce

On December 22, FIC presented key findings...

The Jadar Project And All Administrative Acts Related To Rio Tinto Have Been Abolished

Prime Minister Ana Brnabic announced tonight that the government at today's session revoked the decree and spatial plan of...

Schneider Electric Recognized In Corporate Knights’ Global 100 For The 11th Year In A Row

Schneider Electric, the leader in the digital transformation of energy management and automation, has earned its place in the...

Philip Morris Awarded “Top Employer” Certificate For the Seventh Year in a Row

For the seventh time in a row, Philip Morris Serbia has been awarded the “Top Employer Serbia 2022” Award...

UK Lifts COVID Restrictions, Says Omicron Wave ‘Has Peaked’

Face masks will no longer be mandatory in public places and COVID-19 passports will be dropped for large events...

Djokovic Bets On A COVID Cure As He Quests For Tennis History

The pandemic has blocked Novak Djokovic's march to tennis history, so the 34-year-old may be pinning his hopes on...

Eurobank and Direktna Banka announced the agreement for the merger in Serbia.

Following the merger, the combined bank will have total assets in excess of €2bn and the market share exceeding 6.5%, making it the seventh largest in Serbia.

After the completion of the transaction, Eurobank will control c. 70% of the combined bank, while Direktna’s shareholders will own the remaining 30%. Both parties have committed to a growth-oriented business plan, incorporating ambitious expansion targets that will allow the combined bank to finance the Serbian economy and grow profitably in the next few years.

“We are pleased to have reached an agreement with the principals of Direktna for the merger of our two banks in Serbia and the creation of a much stronger, larger and dynamic local financial institution. This transaction is in line with Eurobank’s strategy to further expand its international activities and create additional value for its shareholders via targeted acquisitions, mergers or joint ventures. We are excited with our partnership with two exceptional Serbian entrepreneurs Andrej Jovanović and Mr. Bojan Milovanović and we are confident for the success of our ambitious plans in Serbia. The merger of Eurobank Serbia with Direktna has substantial merits for all stakeholders of the combined bank including customers, both retail and corporate, depositors, employees and regulators”, said Mr. Stavros Ioannou, Deputy CEO, Group Chief Operating Officer (COO).

“The agreement for the merger of Eurobank and Direktna Banka is in line with Eurobank’s long-term strategy of further strengthening of its position in the local banking and financial market. We are particularly glad that we managed to establish successful collaboration with Direktna Banka representatives, which will contribute to achieving our shared goals in the future and even more successful operations under the same roof. This partnership represents a great opportunity to additionally improve our services and products and continue to be a reliable partner and a safe choice of our numerous clients, as well as representatives of the regulatory bodies and all employees”, said Slavica Pavlović, President of the Executive Board at Eurobank.

Formal completion of the transaction is subject to customary approvals by the competent regulatory and supervisory authorities and is expected to take place during the last quarter of 2021.

Related Articles

Eurobank In New e-Government Program ‘My Data For Bank’

Eurobank is participating in the program ‘My Data for Bank’ initiated by the eGovernment portal of the Republic of Serbia in cooperation with the...

New eService “My Data For Bank” Presented

Prime Minister Ana Brnabic, Governor of the National Bank of Serbia Jorgovanka Tabakovic and Director of the Office for IT and eGovernment Mihailo Jovanovic...

Eurobank And Manchester United Continue Their Long-standing Cooperation

The football club and the bank continue their partnership for the seventh year in a row. Eurobank signed a new agreement on cooperation with...

Eurobank Donated 1.2 rsd Million For Procuring Oxygen Flow Metres

Eurobank provided RSD1.2 million for procuring oxygen flow metres for healthcare institutions in Serbia. The donation was executed via the B92 Foundation and the...

Eurobank Winner of Virtus Award For Contribution to Local Community

Eurobank is the winner of this year’s Virtus Award for the contribution to the local community, for the “Manchester United Soccer School for Children”...

UNICEF and private sector provide protective equipment

The first arrival of protective equipment has today arrived in Serbia, which UNICEF, with the support of private sector partners and individuals, has provided...

Eurobank donates 6 million RSD for medical equipment procurement

Eurobank provided six million dinars for the purchase of the medical equipment required for curbing the coronavirus epidemic. The donation will be realized via...

Eurobank Donates Equipment Worth Over One Million Dinars To School In Šabac

In the presence of the representatives of Eurobank, the Ministry of Education, Science and Technological Development, as well as the head of school, teachers...