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01.08.2003

Bank Austria Creditanstalt strongly expands its Croatian branch network

  • The bank rents 32 branches of FINA, the Croatian Finance Agency
  • Bank Austria Creditanstalt thus strengthens its position as third-largest Croatian bank
  • Successful first six months for Splitska Banka

Bank Austria Creditanstalt (BA-CA) expands its Croatian branch network by 32 branches, bringing the total number to 110. This is an increase of 40 percent. Yesterday the bank signed an agreement with FINA, the Croatian Finance Agency, by which it rents 32 branches in the north of Croatia. With the new branches in Istria, Central and Nothern Coratia as well as Slavonia, BA-CA now has an extensive country-wide network in Croatia. Until now, the network of Splitska Bank, Bank Austria Creditanstalt's Croatian subsidiary, has comprised 78 branches concentrated in the south of Croatia, in the Dalmatian region, and in the country's capital Zagreb. Friedrich Kadrnoska, Deputy Chairman of BA-CA's Managing Board with responsibility for Central and Eastern Europe: "FINA is the ideal partner for us to complete our branch network in Croatia. We are thereby closing the last gaps in the network in the north of the country."

FINA has branches in cities in the northern and eastern parts of Croatia. A big advantage is their location: most of the branches are situated in the city centre, in the most frequented parts of the urban areas. The branches have so far been used for processing payment transactions, i.e. for bank-specific activities. Therefore Bank Austria Creditanstalt sees them as an ideal opportunity to widen its customer base. Moreover, more than 130 experienced employees at FINA's branches will work for Splitska Banka. As part of a "shop-in-shop" strategy, space remaining in the rented buildings will be used by FINA for its activities.

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