ZAGREB, April 24 (Hina) - The Bank Austria Creditanstalt Group (BA/CA), which is the part of the HVB banking group responsible for the Central and East European markets, on Wednesday officially became the owner of 87.6 percent of
shares in the Splitska Banka. Contracts on the purchase of a 25 percent share from the State Agency for the Rehabilitation of Banks (DAB) and a 62.6 percent share from Italy's Unicredito, totalling EUR132 million, were signed on February 27 in Split, and go into force today.
ZAGREB, April 24 (Hina) - The Bank Austria Creditanstalt Group
(BA/CA), which is the part of the HVB banking group responsible for
the Central and East European markets, on Wednesday officially
became the owner of 87.6 percent of shares in the Splitska Banka.
Contracts on the purchase of a 25 percent share from the State
Agency for the Rehabilitation of Banks (DAB) and a 62.6 percent
share from Italy's Unicredito, totalling EUR132 million, were
signed on February 27 in Split, and go into force today. #L#
With the Splitska Banka as its partner, BA/CA has considerably
improved its position on the Croatian market and continued to
further develop its leading role in Central and East Europe, said a
member of the HVB Banking Group's Board and president of the Bank
Austria management, Gerhard Randa. The Splitska Banka and HVB
Croatia are expected to integrate soon, Randa said, adding that the
process of integration should be finalised by mid 2003. The newly
established bank will have a market share of around nine percent and
offer its services to over 220,000 clients in 75 offices.
With a balance amount of EUR1.3 billion and a seven percent market
share, the Splitska Banka is the third financial institution in
Croatia. The bank employs about 1,000 people in about 70 offices
that are mostly located in Dalmatia. The bank was established in
1965 and was restructured over the past two years. It provides
services to about 200,000 clients. Last year's pre-tax profits
amounted to EUR20.8 million.
The BA/CA Group has been present in Croatia since 1997 through its
daughter bank - HVB Croatia, providing services for around 23,000
clients. It employs 160 people in offices in Zagreb, Dubrovnik,
Split, Zadar and Rijeka. In 1991 HVB Croatia realised a pre-tax
profit of EUR11 million.
With a balance amount of more than EUR728 billion, HVB Group is the
third banking group in Europe. It employs 69,500 people in some
2,200 branches and has around 8.5 million clients. BA/CA is the part
of HVB Group responsible for Austria and the markets of Central and
East Europe, and it operates in 15 countries through 800 branch
banks.
(hina) sp sb