Eurobank agrees to merge Serbian unit with Direktna Banka :

Eurobank agrees to merge Serbian unit with Direktna Banka


By Reuters Staff
2 Min Read
FILE PHOTO: View of a Eurobank branch in central Athens March 11, 2015. REUTERS/Yannis Behrakis/File Photo
ATHENS (Reuters) - Eurobank, one of Greece’s four largest lenders, said on Thursday it agreed to merge its Serbian unit Eurobank Beograd with Direktna Banka.
The combined bank, Eurobank Direktna, will have total assets in excess of 2.0 billion euros, total equity above 300 million and net income of more than 35 million euros, Eurobank said.
Its market share will exceed 6.5% in total loans, making it the seventh largest in Serbia.
Eurobank will control about 70% of the combined bank
while Direktna’s shareholders will own the remaining 30%.

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