October 27, 2006 ATEbank announces that the acquisition of 20% of ordinary shares and 24,99% of preference shares of the Serbian Bank AIK BANKA, was completed on October 26, 2006, at a per ordinary share market price of 2,85 times the Bank's checked book value.
A total amount of Euros 92.6 millions was offered for the acquisition of the above mentioned shares.
AIK BANKA has a market share of approximately 3%, is the second most profitable among 39 Banks in Serbia, and has a strong solvency ratio and the highest return on assets.
