Bloomberg News

Erste’s Serbian Unit May Consider Buying Hypo Alpe Subsidiary

November 07, 2012

Erste Group Bank AG (EBS)’s Serbian unit may consider buying the domestic business of Austria’s Hypo Alpe-Adria International AG if offered for sale separately.

Hypo Alpe, the third-biggest lender in the former Yugoslav nations, yesterday asked investors to submit initial bids for its units in Bosnia-Herzegovina, Croatia, Montenegro, Serbia and Slovenia.

“We would be interested to look at Hypo in Serbia if it was offered for sale separately,” Slavko Caric, chief executive officer of the Novi Sad, Serbia-based Erste Banka AD, told reporters in Belgrade today.

Hypo Alpe in Serbia was the sixth-biggest bank by assets at the end of June with a 6 percent market share, according to central bank data. Erste ranked 12th with a 3.4 percent market share.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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