ZAGREB, Oct 20 (Hina) - Two Austrian banks, Vienna-based Erste Bank and Graz-based Steiermarkische Bank und Sparkassen, will purchase 94.287 percent of the entire share in Zagreb-based Trgovacka Bank. It is expected the entire
transaction will be completed on 29 October, Dragutin Bohus, the director of the Zagreb offices of the two Austrian banks, told reporters in Zagreb on Tuesday. Bohus was not specific about the value of the transaction, but pointed out that, in keeping with a joint agreement, it was up to Trgovacka Bank to disclose such information. Details of the contract will be made public after the purchasing contract has been finalised, at a press conference at the end of the month. The two Austrian banks entered the venture together, so each bank will have its half of the purchased share, according to the principle applied in the joint purchase of 60 percent of shares of Bjelovarska Bank. The
ZAGREB, Oct 20 (Hina) - Two Austrian banks, Vienna-based Erste Bank
and Graz-based Steiermarkische Bank und Sparkassen, will purchase
94.287 percent of the entire share in Zagreb-based Trgovacka Bank.
It is expected the entire transaction will be completed on 29
October, Dragutin Bohus, the director of the Zagreb offices of the
two Austrian banks, told reporters in Zagreb on Tuesday.
Bohus was not specific about the value of the transaction, but
pointed out that, in keeping with a joint agreement, it was up to
Trgovacka Bank to disclose such information. Details of the
contract will be made public after the purchasing contract has been
finalised, at a press conference at the end of the month.
The two Austrian banks entered the venture together, so each bank
will have its half of the purchased share, according to the
principle applied in the joint purchase of 60 percent of shares of
Bjelovarska Bank.
The balance sum of Trgovacka Bank is US$45.7 million, Bohus said,
emphasising the Bank is successful in collecting 90 percent of its
claims. We believe we have made a good deal, he asserted.
Trgovacka Bank has four sub-branches and headquarters in Zagreb,
and two branch banks elsewhere in Croatia. It employs 140 persons.
Erste Bank and Steiermarkische Bank und Sparkassen intend to make a
ten percent share on the Croatian bank market.
(hina) ha jn