Completed legal merger of Direktna Banka and Eurobank
13 December 2021.
NEW BANK OPERATES AS EUROBANK DIREKTNA
Eurobank has successfully completed the process of legal merger with Direktna Banka and, as of today, operates as Eurobank Direktna a.d. In line with the finalised merger, Eurobank Direktna a.d. reflects a synergy of the two strong financial institutions, operating with total assets exceeding 2 billion euros and capital of over 300 million euros, thus accounting for 6.4% of the lending market in Serbia. Eurobank Direktna a.d., as a member of the Eurobank Group, has the network of 127 branches across the country.
“The merger of Direktna Banka and Eurobank has contributed to the establishment of a stronger and more dynamic financial institution. With the expanded business network, the Bank will offer a comprehensive portfolio of up-to-date financial products and services, while enhancing the service quality standards in order to respond to technological needs of modern clients. Eurobank Direktna will be a reliable and strong partner to numerous clients, as well as an important factor in maintaining stability of the local financial system”, said Slavica Pavlović, President of the Executive Board.
In regard to performing banking activities, clients will have at their disposal all the products and services as in the previous period, and all agreements and other obligations will continue in the same manner and without any changes in execution. The comprehensive network will continue to provide the clients of the merged Direktna Banka’s with a wide range of services, as before.
As previously reported, Eurobank and Direktna Banka reached an agreement on the merger this July, when it was announced that, following the completion of this transaction, Eurobank’s shareholders would control 70 percent of shares in the combined bank, whereas Direktna’s shareholders would own the remaining 30 percent of shares. After an approval of all relevant institutions, the merger status change was completed in December 2021.