DUBROVNIK, Feb 4 (Hina) - The chairman of the board of Dalmatinska Banka, Zdravko Bubalo, and the manager of the State Agency for the Insurance of Saving Deposits and Financial Rehabilitation of Banks, Marinko Filipovic, signed a
contract for the purchase of Dubrovacka Banka in Dubrovnik on Monday. Under the contract, Dalmatinska Banka has paid EUR32 million for the 100 percent ownership in Dubrovacka Banka. Deputy Prime Minister Slavko Linic said Dubrovacka was financially rehabilitated before the contract was signed, with attention having been paid to making sure the new owners were capable of guaranteeing the stability and security of the Croatian banking system. According to Bubalo, the chief goal of Charlemagne Capital Ltd, the owner of the Dalmatinska Banka group, is to consolidate Dubrovacka and make it a profitable financial institution which will have a strong an
DUBROVNIK, Feb 4 (Hina) - The chairman of the board of Dalmatinska
Banka, Zdravko Bubalo, and the manager of the State Agency for the
Insurance of Saving Deposits and Financial Rehabilitation of
Banks, Marinko Filipovic, signed a contract for the purchase of
Dubrovacka Banka in Dubrovnik on Monday.
Under the contract, Dalmatinska Banka has paid EUR32 million for
the 100 percent ownership in Dubrovacka Banka.
Deputy Prime Minister Slavko Linic said Dubrovacka was financially
rehabilitated before the contract was signed, with attention
having been paid to making sure the new owners were capable of
guaranteeing the stability and security of the Croatian banking
system.
According to Bubalo, the chief goal of Charlemagne Capital Ltd, the
owner of the Dalmatinska Banka group, is to consolidate Dubrovacka
and make it a profitable financial institution which will have a
strong and healthy share on the Croatian financial market.
The acquisition of Dubrovacka Banka provides conditions for making
the Dalmatinska Banka group the leading group of commercial banks
on the Adriatic, said Hans van Griethuysen, the managing director
of SWR Ltd, Charlemagne Capital's banking department. He added
commercial principles and full business openness would be
priorities in the management of Dubrovacka.
The bank will retain the status of independent bank for some time.
Its purchase and the impending merging of three banks from the
Dalmatinska Banka group (the Dalmatinska, Istarska, and Sisacka
banks), will create a very serious monetary institution whose
activity on a large part of Croatian territory will make it a
significant factor on the domestic banking market. It is estimated
the merging of the three banks and the buying of Dubrovacka will
make the new monetary institution one of the five strongest banks in
Croatia.
Charlemagne Capital Ltd is also the owner of Croatia's
Cinematographers, and manages investments on behalf of various
institutions and numerous renowned businessmen from, among else,
the United States, Canada, Western Europe, and Japan. Charlemagne
is particularly interested in investing in European countries on
the brink of major development, representatives said.
Dalmatinska Banka has five branches in Rijeka, Split, Sibenik,
Zagreb, and Zadar, with more than 470 employees in 20 offices.
(hina) ha sb