OSIJEK, March 30 (Hina) - The European Bank for Reconstruction and Development (EBRD) and Hypobanka are to become majority shareholders of the Osijek-based Slavonska Bank. The EBRD and Hypobanka have recently approved the conversion
of a DM 20-million-valued credit into the capital of this Croatian bank. In this way, the two financial institutions will hold 55 percent of the Slavonska Bank's shares, said the chairman of the Slavonska bank's management, Ivan Mihaljevic, on Monday. In the coming weeks we should arrange legal operations at the commercial court, Mihaljevic added. Hypobanka granted also a long-term DM 50-million credit to this bank in eastern Croatia. This credit, along with the expected credit from the World Bank, should help rehabilitate the economy in this part of Croatia, Mihaljevic said. In 1998, after the taxation, Slavonska bank made a profit of abou
OSIJEK, March 30 (Hina) - The European Bank for Reconstruction and
Development (EBRD) and Hypobanka are to become majority
shareholders of the Osijek-based Slavonska Bank.
The EBRD and Hypobanka have recently approved the conversion of a DM
20-million-valued credit into the capital of this Croatian bank. In
this way, the two financial institutions will hold 55 percent of the
Slavonska Bank's shares, said the chairman of the Slavonska bank's
management, Ivan Mihaljevic, on Monday.
In the coming weeks we should arrange legal operations at the
commercial court, Mihaljevic added.
Hypobanka granted also a long-term DM 50-million credit to this
bank in eastern Croatia. This credit, along with the expected
credit from the World Bank, should help rehabilitate the economy in
this part of Croatia, Mihaljevic said.
In 1998, after the taxation, Slavonska bank made a profit of about
2.8 million US dollars.
(hina) ms