RIJEKA, Sept 22 (Hina) - The project of merging the Rijecka Banka and the Erste & Steirmaerkische Banka will begin within several weeks, and the new banking group comprised of the two banks will begin functioning in the first half of
2003, the two banks' representatives reported on Sunday.
RIJEKA, Sept 22 (Hina) - The project of merging the Rijecka Banka
and the Erste & Steirmaerkische Banka will begin within several
weeks, and the new banking group comprised of the two banks will
begin functioning in the first half of 2003, the two banks'
representatives reported on Sunday. #L#
All important decisions on the group's business will be made by
leading people of the Rijecka Banka and Erste & Steirmaerkische
Banka d.d. Zagreb, the Erste Banke der Oesteretschicher Sparkassen
AG from Vienna, and the Erste Banke und Sparkassen AG from Graz.
When the merger is complete, a bank will be established which will
be the third largest financial group in Croatia with about 600,000
clients, deposits of 8.9 billion kuna, a balance of 13.6 billion
kuna, with 115 branch offices, and a ten percent share of the
market, the two banks' representatives stated.
The merger will also enable a more profitable business, as well as
faster and more efficient harmonisation to the increasing
competition on the financial market, they said.
(hina) lml