AIK Bank has signed a purchase agreement on the takeover of Sberbank Serbia, as part of expanding the operations of its banking group to six markets, it was announced tonight.
This transaction is part of a joint agreement signed between Sberbank of Europe and AIK Bank, Gorenjska Bank from Kranj and AEC Ltd. on the purchase of Sberbank subsidiaries in Serbia, Slovenia, Bosnia and Herzegovina, Croatia and Hungary whose total assets amount to 7.329 billion euros. The President of the Executive Board of AIK Bank Jelena Galic said that the acquisition represents another extremely important step in the further development of AIK Bank, but also a kind of confirmation of its previous operations.
“Strengthening the presence in the countries in which we already operate, but also expanding the business of our banking group to new markets, is in line with our strategic commitment to position ourselves as one of the leading banking groups in Central and Eastern Europe. The goal remains to provide clients, both existing and new, with the highest quality customer experience through innovative and modern banking products created in accordance with their real needs,” said Galic.
After the realization of the process of acquisition of Sberbank subsidiaries in Serbia, Slovenia, Croatia, Bosnia and Herzegovina, Republika Srpska and Hungary, AIK Bank will be at the head of a regional banking group whose assets exceed 11 billion euros.
With this acquisition, AIK Bank continues its operations with a strong capital base and asset size, which positions it among the top five banks in the domestic market in Serbia, with a market share of 8.3 percent.
The transaction is expected to be completed in 2022, after obtaining the consent of the competent national and European regulatory bodies, according to a statement from AIK Bank.
AIK Bank is one of the leading banks in Serbia with its headquarters in Belgrade and a tradition of 45 years, and since 2019 it has become the first bank from Serbia to enter the European Union market. It is one of the leading financial institutions in the region, with a complete range of financial solutions for the economy and the population, a wide network of branches and advanced digital products.
At the end of last year, the bank had assets of 2.1 billion euros and deposits of 1.7 billion euros, Beta reports.
