Slovenia's Banka Celje transfers 398.5 mln euro of liabilities to bad bank

The agreement between the bank and DUTB signed on Thursday foresees also the transfer of a bond and an equity stake worth a total 1.6 million euro, for which DUTB will also pay with bonds, maturing on December 2017. The total gross value of the assets transferred is 411.4 million euro, DUBT added in a bourse filing.

The move follows the recapitalisation of Banka Celje with an injection of 190 million euro on December 17, through which the state became a 100% owner of the bank.

The restructuring plan, approved by the European Commission, also envisages the merger of Banka Celje with the third largest Slovenian bank, Abanka Vipa, and the sale of the combined entity.

Banka Celje  has become the sixth in a series of debt-stricken banks fully acquired by the state in the last year after Nova Ljubljanska Banka, Nova Kreditna Banka Maribor, Abanka and two small banks in liquidation - Probanka and Factor Bank.

($=0.8135 euro)