BA-CA completes sale of Croatian subsidiary Splitska banka
The buyer is Société Générale
BA-CA will assume responsibility for UniCredit Group’s Zagrebačka banka
Bank Austria Creditanstalt (BA-CA), a member of the UniCredit Group, completed the sale of its Croatian banking subsidiary HVB Splitska banka to Société Générale, the French banking group. The closing of the sale took place on 30 June. The price of the transaction is around EUR 1 billion. The sale of the bank was necessary due to merger control requirements of the Croatian law. The investment banks CA IB and Credit Suisse acted as advisers to BA-CA in the sale process.
Splitska banka has total assets of EUR 3.2 billion, 112 branches and 1,112 employees. At the end of 2005 the bank served more than 460,000 corporate and retail customers.
Number 1 in Croatia
After the sale of Splitska banka, BA-CA as sub-holding of the UniCredit Group for operations in Central and Eastern Europe will assume responsibility for UniCredit's subsidiary in Croatia, Zagrebačka banka. With total assets of EUR 8.9 billion and a market share of 24 percent, Zagrebačka banka is the number 1 bank in Croatia. With around 4,200 employees serving approximately 1.2 million customers through around 130 branches, Zagrebačka banka is a universal bank and is the market leader both in the retail and the corporate customer segment in Croatia.
UniCredit Group operates the largest international banking network in Central and Eastern Europe. More than 60,000 employees serve around 17 million customers through over 2,900 branches.
Enquiries: Bank Austria Creditanstalt International Press Relations
Ildiko Füredi-Kolarik, phone +43 50505 56102