Sparkasse to take over Ohridska banka in North Macedonia

Sparkasse to take over Ohridska banka in North Macedonia

Published at: 2019-03-01 10:38 | Author: CIJ Serbia
Steiermärkische Sparkasse is planning to buy Ohridska banka in North Macedonia from Societe Generale. The purchase price was not disclosed, but Ohridska banka currently has €650m in total assets and employs more than 400 people. The transaction is expected to close in the coming months. Societe Generale announced last year that it would be pulling out of the East European region as well as markets where it is not among the top three lenders. Sparkasse has been operating in Macedonia since 2008. Once Ohridska banka joins its portfolio, Sparkasse’s assets will exceed €1bn.

Similar Stories:

Hungary reports second highest inflation rate in EU in July
At 3.3 percent, Hungary had the second highest annual inflation rate in the EU in July, ac  »
Hungarian debt falls to 68.7% of GDP in Q2
Hungary’s state debt fell to 68.7 percent of the country’s GDP at the end of June, acc  »
BCR relocating to Business Garden Bucharest
The Romanian Commercial Bank (BCR) has leased 14,000 sqm at Business Garden Bucharest and  »
OTP Bank named best digital bank in Hungary
Global Finance has named OTP Bank the best digital bank in Hungary. This is the third time  »
Can you explain the issue of the so-called Greed Tax that was created by the Romanian gove   »
CIJ: Why is the financial crisis from the last decade still relevant today? The echoes ar   »
One of the long-standing paradoxes of Slovakia’s property market has long how difficult   »
The future is not out of our hands. Indeed, the main purpose of organised real estate is t   »