September 11, 2006 ATEBANK announces that, within the framework of its strategic decision for expansion in the Balkans, the Black Sea and the Eastern Mediterranean, and following a decision of its Board of Directors, the Governor of the Bank Mr. Dimitris Miliakos signed an agreement on 8-9-06 with shareholders of the Serbian Bank AIK BANKA for the acquisition of 24.99% of ordinary shares and 24.99% of preference shares of the above Bank, which is listed in the Belgrade Stock Exchange.
The conclusion of the transaction is subject to the completion of financial, tax and legal due diligence and the issuance of the requisite approvals by the Bank of Greece and the Central Bank of Serbia. Further details as to the transaction shall be provided upon its completion, which is expected to occur by the end of September.
AIK BANKA has a market share of approximately 3%, is the most profitable among 39 banks in Serbia, and has a strong solvency ratio and the highest return on assets.
The above acquisition is the second step of the expansion of ATEBANK in the Balkans following the acquisition of a majority shareholding in the Romanian bank MINDBANK.
The consultant of ATEBANK for the above transaction is Deloitte Hellas.
