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Croatia’s Slatniska Banka buys 100% of Wustenrot Stambena Stedionica

May 29, 2024, 11:30:41 AMArticle by Annie Tsoneva
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May 29 (SeeNews) - Croatia's Slatinska Banka [ZSE:SNBA] said on Wednesday it has signed a deal to buy 100% of Zagreb-based house savings bank Wustenrot Stambena Stedionica.

Croatia’s Slatniska Banka buys 100% of Wustenrot Stambena Stedionica
Slatinska Banka. Source: Slatinska Banka

The main reason for the acquisition are the similar sizes of the two companies, the quality portfolio of Wustenrot Stambena Stedionica, its healthy balance sheet with low level of non-performing loans, high potential for synergy effects, long-term stable and profitable performance and its basis of almost 150,000 existing users, Slatinska Banka said in a filing to the Zagreb Stock Exchange (ZSE), without disclosing the price of the acquisition.

The transaction will be completed after the parties receive approvals from Croatia's central bank and the European Central Bank,

According to data from the Croatian court registry, the founder of Wustenrot Stambena Stedionica is Austrian building society Bausparkasse Wustenrot Aktiengesellschaft.

Slatinska's shares last traded on May 22, closing flat at 13.90 euro ($15.06).

($ = 0.923 euro)

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