LJUBLJANA (Slovenia), September 27 (SeeNews) – Slovenia's investment company Alta Invest said it has acquired the brokerage business of the local unit of Addiko Bank, formerly Hypo Bank, for an undisclosed sum.
The transfer of funds and trading accounts from Addiko Bank to Alta Invest will begin automatically on October 6, Alta said in a statement on Monday.
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Addiko Bank has decided to sell its brokerage business to focus mainly on traditional banking activities.
"By taking over the brokerage activities of Addiko Bank, we are pursuing our strategic plan. According to current trends, the Alta Group will have more than 100,000 customers with total assets of around 3 billion euro ($3.4 million) by the end of this year", Igor Taljat, Alta CEO, said in the statement.
In the past year, Alta completed 158,000 stock exchange transactions for its clients with a total value of 2.8 billion euros.
In July, Hypo Alpe Adria Bank began to operate under the name of Addiko in the Balkan region to reflect the bank's new strategy of focusing on households and small and medium enterprises (SMEs).
Addiko Bank is an international financial group headquartered in Vienna, operating in Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro.
($=0.889724 euro)
Addiko Bank d.d. (formerly known as Hypo Alpe-Adria-Bank d.d.) is among the biggest banks in SEE. You can download our SEE Top 100 ranking
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