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PPF Group acquires Serbia’s Telenor Banka

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PPF Group has acquired 100 per cent of Serbia’s Telenor Banka from Telenor Group, having obtained the regulatory approval from the National Bank of Serbia.

The transaction follows the acquisition of Telenor Group’s telecom assets in Hungary, Bulgaria, Serbia and Montenegro. 

Telenor bank specialises in innovative online financial services and was the first fully mobile and online bank operating in Serbia. Its portfolio includes more than 400,000 clients. At the end of 2018, the bank had assets under management worth EUR 135 million.