HNB: Approves Erste&Steiermarkische Bank Concentration

Boris Vujcic, HNBLPJ Issue 157, 16 November 2015

Steiermarkische Bank und Sparkassen AG, Graz and Erste Group Bank AG, Vienna obtained the approval from the HNB Council to acquire 30% or more and 50% or more, respectively, of the initial capital of Erste&Steiermarkische Bank Rijeka.

With this transaction, the indirect holders of the bank capital become direct holders, simplifying the ownership structure of the bank and enabling better coordination of business processes through a reduced number of involved undertakings.

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