EBRD now owns approximately 8.4 per cent stake in Addiko Bank

EBRD now owns approximately 8.4 per cent stake in Addiko Bank

(PRESS RELEASE) LONDON, 5-Mar-2020 — /EuropaWire/ — EBRD now owns a stake of approximately 8.4 per cent of Addiko Bank AG. EBRD has swapped its indirect stake in the bank, which it held via a private special purpose vehicle, with a direct stake.

The EBRD’s move to reorganised its share ownership in Addiko Bank, underlines its long-term commitment to the bank, it follows recent changes in the ownership of the bank.

Addiko Bank, headquartered in Vienna, is a regional financial group operating in south-eastern Europe, with focus on retail clients and offering advanced technological solutions such as digitalised banking services.

Addiko Bank was established in the course of the resolution of the nationalised Austrian lender Hypo Alpe Adria Group and acquired by a global private equity firm, Advent International, and the EBRD in December 2014.

Addiko was returned to the market with an IPO in June 2019 following the its successful restructuring and the reorientation of its business.

The EBRD continues to see Addiko Bank as a strategic player in the financial sector in Bosnia and Herzegovina, Croatia, Montenegro, Serbia and Slovenia, where the lender operates.

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SOURCE: EBRD