Regional banking consolidation accelerated further as AIK Group, controlled by Serbian businessman Aleksandar Kostić, signed agreements to acquire a controlling stake in Croatia’s Podravska banka, marking a strategic expansion into the European Union market.
Under the signed share purchase agreements, AIK Group is set to acquire 613,567 shares, representing approximately 91.75% of Podravska banka’s total share capital, effectively securing majority control of the Croatian lender.
The financial parameters of the transaction underline its scale within the regional banking context. The agreed purchase price stands at around €68.79 per share, implying a total transaction value of slightly above €42 million for the controlling stake.
Completion of the deal remains subject to regulatory approvals from multiple jurisdictions, including the Croatian central bank, the European Central Bank, and competition authorities across several regional markets. Once finalised, AIK Group will also be required to launch a mandatory takeover offer for the remaining shares, in line with Croatian capital market rules.
This move represents a continuation of AIK Group’s aggressive regional expansion strategy. The group has already built a multi-market banking platform spanning Serbia, Slovenia, and Montenegro, including the acquisition of a controlling stake in Hipotekarna banka in 2025 and earlier consolidation moves in Serbia’s domestic market.
The entry into Croatia carries strategic significance beyond simple geographic diversification. It provides AIK Group with direct exposure to an EU-regulated banking market, enhancing its positioning within the broader European financial system and opening access to eurozone-aligned regulatory frameworks and funding channels.
From a structural perspective, the acquisition reflects a wider trend of banking sector consolidation across Southeast Europe, where regional players are increasingly scaling through cross-border acquisitions. AIK Group has emerged as one of the most active domestic capital-led consolidators, contrasting with earlier waves dominated by Western European banking groups.
For Croatia’s Podravska banka, the deal introduces a new ownership structure backed by a rapidly expanding regional financial platform. For AIK Group, it strengthens its trajectory toward becoming a multi-jurisdictional banking group with integrated operations across both EU and non-EU markets.
The transaction also signals a broader shift in capital flows within the region. Instead of foreign banks retreating or dominating acquisitions, locally anchored financial groups are increasingly taking the lead in reshaping the banking landscape—leveraging regional expertise, capital accumulation, and regulatory familiarity to expand across borders.
As regulatory approvals progress, the deal is expected to close in the coming months, potentially triggering further consolidation activity as regional banking groups continue to compete for scale, market share, and access to EU financial infrastructure.
