SPLITSKA BANKA SOLD TO MILAN-BASED UNICREDITO ITALIANO

SPLIT, April 19 (Hina) - Italy's Milan-based Unicredito Italiano (UCI) bank on Wednesday became the majority owner of Croatia's Splitska Banka. A sales contract was signed in the southern Croatian port of Split by Roberto Nicanttre, UCI's managing director, Marinko Filipovic, the director of Croatia's State Agency for the Financial Rehabilitation of Banks and the Insurance of Savings Deposits, and Tomislav Bolotin, Splitska Banka's head of management. Also present was Deputy Premier Goran Granic. UCI has thus become the owner of 63 percent of Splitska Banka shares, for which the Italian bank paid EUR48.4 million. The Croatian government has retained 25 percent plus two of the bank's shares, while the remaining 12 percent is owned by small shareholders. Splitska Banka is the largest monetary institution in the southern Croatian region of Dalmatia, and the third in Croatia in terms of total assets and deposits. The bank's book share value amounted to EUR54.2 million on 31 December 1999. Deputy Premier Granic evaluated the sale as a "brave and wise decision by the government" which he said "will contribute to a renaissance of the region." UCI president Luigi Rondelli and managing director Nicanttre expressed hope the great Italian banking corporation would contribute to Croatia's economic growth. "Croatia's economy can develop only with a strong banking sector, and this is what Unicredito can ensure," said Filipovic. (hina) ha