After merging with the HVB bank group, Unicredito has to sell one of its two banks in Croatia because ownership concentration is not allowed. They are owners of the largest bank - Zagrebacka Banka - and of Splitska Banka, which is why they have decided to sell the latter.
According to APA, banks in south-east Europe are being sold at prices threefold higher than their book value.
The agency says the book value of Splitska Banka, which is the fifth largest bank in Croatia according to assets, is about 250 million euros.
The agency also reports that possible buyers of the Splitska may be French, Spanish, British, Dutch and Belgian financial institutions.
Recently the governor of the Croatian National Bank called on Croatian business entities to set up a concern which would be able to buy Splitska Banka.
According to the Croatian press, it seems there will not be enough time for such a move.