Merger by acquisition of KBS banka by Nova KBM finalised

MARIBOR, 04-Jan-2017 — /EuropaWire/ — Today (3. january 2017), the District Court of Maribor issued a decision on entering into the court register the merger by acquisition of KBS banka by Nova KBM. Consequently, KBS banka ceased to exist as an independent legal entity, with all its obligations and rights being transferred to Nova KBM, its legal successor.

Its country-wide network of branch offices and ATMs will make it possible for the merged bank to be as close and accessible to customers as possible. While customer service is unaffected by the merger procedure and continues to be provided as usual, Nova KBM will ensure that customers of the former KBS banka are timely informed in writing of any change taking place in their banking transactions as a result of the merger.

The merged bank, which took on the employees of KBS banka, operates under the name Nova KBM d.d., with its head office being in Maribor, at Ulica Vita Kraigherja 4. KBS banka´s corporate brand will be replaced by the corporate brand and the overall corporate identity of Nova KBM.

The composition of the Nova KBM Management Board remains unchanged: Robert Senica will continue to serve as the President of the Management Board. Other members of the Nova KBM Management Board are Sabina Župec Kranjc, Josef Gröblacher and Jon Locke, the latter two of whom took up their roles on 1 January this year. John Denhof, who was appointed as new President of the Management Board in November last year, subject to regulatory approval, continues to serve as a procurator of Nova KBM.

The registration of the merger with the relevant court represents a key milestone in the process of integrating KBS banka and Nova KBM, which until now have shared the same owners, namely Apollo, a global investment manager, and the European Bank for Reconstruction and Development (EBRD). After Nova KBM merged with its then wholly-owned subsidiary Poštna banka Slovenije (PBS) in September, the merger that was completed today represents another step in the process of transforming Nova KBM into the leading bank in Slovenia.

The merged Nova KBM has 70 branch offices and 17 business units serving corporate customers, in addition to providing services through more than 500 post offices and contractual post offices, which became part of its distribution network following its September merger with PBS. Thus, Nova KBM has the largest branch network of any bank in Slovenia, while it ranks number two in terms of total assets, with its market share standing at 13.3% (according to the financial data for the end of September 2016).

Andrej Fatur, Chairman of the Nova KBM Supervisory Board: “The merger of Nova KBM and KBS banka constitutes a significant move forward in accomplishing the strategic objective of Apollo and the EBRD – to transform Nova KBM into the leading bank in Slovenia. The merger procedures are being carried out in a constructive and professional manner, thanks to the efforts of employees of both banks. The Supervisory Board is convinced that the merger will create greater and wider opportunities for Nova KBM´s growth and development, and will enable Nova KBM to contribute even more to the development of the economic and social environment in which it operates.”

Robert Senica, President of the Nova KBM Management Board: “Customers will still remain at the centre of our business after the merger. We will continue to focus on providing and developing contemporary, top-notch financial services aimed at helping our customers to achieve their personal and business goals. Numerous advantages of the merger, which is expected to integrate the tradition, talent, know-how, experience and the best practices of Nova KBM and the former KBS banka and PBS, will surely contribute positively to our business going forward.”

Gvido Jemenšek, President of the Management Board of the former KBS banka: “The merged Nova KBM has, in view of its clear strategy, a great potential to become the best bank in Slovenia. Our customers will gradually be able to benefit from an extensive range of contemporary banking services provided by the merged bank, and from its widespread branch network. I believe that KBS banka employees, with their know-how and experience gained by working in an international banking group, will contribute to the implementation of Nova KBM´s future goals.”

The process of merging the operations of Nova KBM and KBS banka will continue over the next few months. A plan has been developed to unify the computer systems used by the banks, making it easier to gradually transfer customer accounts held by the former KBS banka to Nova KBM´s systems. The date of transferring the accounts, the new account numbers and all other relevant information will be notified by Nova KBM to customers of the former KBS banka in good time. Additional useful information for customers is published at https://www.nkbm.si/rastemo-skupaj.

SOURCE: Nova KBM

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