PULA, Oct 31 (Hina) - A contract on the take-over of Istarska banka Pula by strategic partner Regent Europe Ltd. from London will be signed within the next ten days, Istarska banka Ltd. chairman of the board Milenko Vidulin told
reporters on Tuesday. This will mark the end of months of activities aimed at rehabilitating the bank which fell into difficulties last March, he said. The bank will start operating as a completely consolidated financial institution on Jan. 1, 2001. Vidulin said this was the first case of classic recapitalisation, with the international investment fund Regent investing 186 million kuna ($21.1 million) instead of the usual purchase of stocks. Moreover, the London-based fund was granted permission from the Croatian National Bank to take over 65 percent of shares in Dalmatinska banka Zadar. Negotiations are in course for the take-over of yet another Croatian b
PULA, Oct 31 (Hina) - A contract on the take-over of Istarska banka
Pula by strategic partner Regent Europe Ltd. from London will be
signed within the next ten days, Istarska banka Ltd. chairman of the
board Milenko Vidulin told reporters on Tuesday.
This will mark the end of months of activities aimed at
rehabilitating the bank which fell into difficulties last March, he
said. The bank will start operating as a completely consolidated
financial institution on Jan. 1, 2001.
Vidulin said this was the first case of classic recapitalisation,
with the international investment fund Regent investing 186
million kuna ($21.1 million) instead of the usual purchase of
stocks.
Moreover, the London-based fund was granted permission from the
Croatian National Bank to take over 65 percent of shares in
Dalmatinska banka Zadar. Negotiations are in course for the take-
over of yet another Croatian bank.
Vidulin said that for the time being, Istarska banka would keep its
name and independence with its own management.
The bank today also marked world saving day. The head of the
department for relations with citizens, Lina Slivar-Radovan,
promoted the bank's new product, the international credit card Visa
Classic Card.
(hina) ha