UniCredit Group concludes the reorganisation of Central Eastern European banking business:
BA-CA is the competence centre for banking activities in CEE
- CEE Division of UniCredit Group comprises more than 3,000 branches
- Hampel: "The new CEE network broadens from Bludenz to Novosibirsk"
UniCredit Group has, with the closing of the CEE transfers to BA-CA, completed the reorganisation of its Central Eastern European banking business. BA-CA is now the CEE competence centre within UniCredit Group for banking activities, acquiring the banking shareholdings in Bulgaria, Croatia, the Czech Republic, Estonia, Latvia (with branches in Estonia and Lithuania) Romania, Russia, Slovakia and Turkey.
In terms of total assets the business volume (as per 30 September 2006) of BA-CA in CEE increases from around EUR 40 billion to EUR around 70 billion. UniCredit Group's CEE Division, which is being run by BA-CA, is now responsible for a market of more than 300 million inhabitants, meaning BA-CA’s radius of action has tripled.
"Our clients are the clear winners of this integration. Our new network stretches from Bosporus in the Baltic States and from Bludenz to Novosibirsk", said Erich Hampel, Board Chairman of BA-CA and Head of the CEE Division of UniCredit Group.
BA-CA took over six banking shareholdings and related activities (CEE Business Unit) of UniCredit with approximately 1,100 branches in Bulgaria, Croatia, Romania, Slovakia, the Czech Republic and Turkey. Following the registration of BA-CA's capital increase (occurred on 16 March 2006), UniCredit has today received 55 million newly issued shares of
The banking shareholdings transferred include:
- 50.00% of Koç Finansal Hizmetler A.S. in Turkey,
- 81.91% of Zagrebačka banka D.D. in Croatia,
- 86.13% of Bulbank A.D. in Bulgaria,
- 100.00% of Živnostenska banka, a.s. in Czech Republic,
- 97.11% of UniBanka a.s. in Slovakia, and
- 99.95% of UniCredit Romania S.A. in Romania.
In the months before
Growth potential still high in Central Eastern Europe
Central and Eastern Europe still basks in huge growth potential: the credit market grew 33 percent last year, with Russia recording a figure of
About Unicredit Group
Bank Austria Creditanstalt
With a market capitalisation of roughly EUR 70 billion
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