December 13 (SeeNews) - Greece's Eurobank said on Monday it has completed the merger of its Serbian unit Eurobank Beograd with local lender Direktna Banka.
The combined bank, named Eurobank Direktna, in which Eurobank holds 70%, with a strong capital and liquidity position and a market share of 6.5% in customer loans, becomes the seventh-largest lender in Serbia, Eurobank said in a statement.
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As part of the transaction, Eurobank Beograd will distribute about 232 million euro ($261 million) to Eurobank Group via dividend payment and capital return, the Greek lender said.
In July, Eurobank signed an agreement to merge Eurobank Beograd with Direktna Banka. The combined bank has total assets in excess of 2 billion euro, total equity above 300 million euro and pre-provision income and net income in excess of 50 million euro and 35 million euro, respectively.
($ = 0.88764 euro)
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