EBRD mulls 3 mln euro loan to N. Macedonia's Sparkasse Bank

The project will support Sparkasse Bank's competitiveness by providing much-needed long term funding to support the growth of its retail portfolio, the EBRD said in a statement.

Sparkasse Bank is a unit of Austria's Steiermarkische Bank und Sparkassen, which recently acquired a majority stake in another North Macedonia-based lender - Ohridska Banka. Sparkasse Bank and Ohridska Banka are expected to merge in 2021, creating the country's fourth largest bank with a market share of 12-13%, according to the EBRD.

($ = 0.9077 euro)