Bloomberg News

Austrian Erste Bank Submits Offer for Hypo Unit in Serbia

January 16, 2013

Austria’s Erste Group Bank AG (EBS) submitted a letter of intent to buy the Serbian unit of Hypo Alpe-Adria International AG and is waiting for the Austrian government’s response, Serbian Beta news agency said.

If the government’s response is negative or the offer is not acceptable, Erste has a “backup plan” for its expansion in Serbia, Beta cited Erste Group Chief Executive Officer Andreas Treichl as saying.

Treichl also said Erste is aiming for “organic growth” and expansion in the retail banking business in Serbia.

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus