Eurobank announces completion of merger of its Serbian subsidiary with Direktna Banka

ATHEX-listed Eurobank S.A., a subsidiary of Eurobank Holdings, on Friday announced the successful merger of Direktna with its subsidiary in Serbia, Eurobank a.d. Beograd, with absorption of Direktna by the latter.

Regulatory approvals by the Serbian government were concluded over the recent period.

Eurobank will hold a 70-percent stake in the combined bank, Eurobank Direktna.

The combined bank will field a strong capital and liquidity position. It holds a market share of 6.5 percent in customer loans in the country and is assessed as the seventh largest in Serbia.

As part of the transaction, Eurobank a.d. Beograd will distribute to Eurobank Group via dividend payment and a capital return an amount of 232 million euros.