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Gorenjska banka bought Sberbank in Slovenia

Gorenjska Banka bought Sberbank in Slovenia

Gorenjska Banka, the Slovenian bank owned by AIK Banka Srpska, has signed an agreement to buy the Slovenian branch of Russian Sberbank. Following approval by regulators, the merger would create the third largest banking group in the country.

The legally binding contract signed by Gorenjska Banka is part of a larger agreement signed Wednesday between Sberbank Europe and AIK Bank, Gorenjska Banka and AGRI Europe Cyprus Group to acquire Sberbank branches in Slovenia, Serbia, Bosnia and Herzegovina, Croatia and Hungary, whose total assets amount to 7.33 billion euros.

The signing of the contract was preceded by an extensive procedure that included many analyzes, with the selection of buyers due to their strong regional presence, a vision of the bank’s future development, the Kranj-based bank said on Wednesday.

The President of the Executive Board of AIK Bank and the Chief Supervisor of Gorenjska Banka Jelena Galić stressed the importance of mutual growth and further development, with a commitment to further improve banking services.

“Since 2019, when AIK Bank became the majority owner of Gorenjska Banka, the latter has increased, followed by a stable capital and deposit base and improved profitability, encouraging us to continue investing in this part. of Europe “, she added.

Once the acquisition of Sberbank subsidiaries in Slovenia, Serbia, Bosnia and Herzegovina, Croatia and Hungary is finalized, the total assets of the AIK Bank group will increase to more than 11 billion euros, Galić announced.

The chairman of Gorenjska Banka Mario Henjak said the agreement created new opportunities for further growth in the Slovenian market that took place in one of the leading banking groups in the region.

Last year, Gorenjska Banka was the 7th largest bank in Slovenia in terms of total assets, while Sberbank was the 9th largest out of a total of 14 banks. The merger would create the third largest banking group in the country with 9.4% of the market.

Sberbank Europe, which expanded in Europe mainly through the acquisition of Austrian Volksbank in 2012, is headquartered in Vienna and operates in eight markets, also in Austria, Germany and the Czech Republic.

Sberbank Europe has approximately 773,500 customers, 3,900 employees and 187 branches, including 12 in Slovenia.

The Russian banking group recently announced its withdrawal from the European market within a year or two, which includes the sale of its majority stake in the Croatian group Fortenova, which includes the Slovenian seller Mercator.

Source: STA

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