Further to the announcement dated July 1st 2021, Eurobank S.A. (“Eurobank”), subsidiary of “Eurobank Ergasias Services and Holdings S.A.” (Eurobank Holdings), announces that, following the receipt of the relevant regulatory approvals, the merger of Direktna with Eurobank’s subsidiary in Serbia, Eurobank a.d. Beograd (“Eurobank Serbia”) (the “Transaction”), with absorption of Direktna by Eurobank Serbia, has been concluded.
The combined bank (“Eurobank Direktna”), in which Eurobank holds 70%, with a strong capital and liquidity position and a market share of 6.5% in customer loans, becomes the seventh largest in Serbia.
As part of the transaction, Eurobank a.d. Beograd will distribute to Eurobank Group via dividend payment and capital return an amount of c. €232m.
The Transaction is in line with Eurobank’s strategy to further strengthen its position in the countries where the Group maintains a presence and grow further with targeted acquisitions and friendly mergers.
Important note: This release contains certain forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to these uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Eurobank disclaims any obligation to update any forward-looking statements contained in this announcement, except as required pursuant to applicable law.