Erste Bank interested in purchase of Hypo-Alpe-Adria Bank International

Erste bank AG announced its interest in takeover of the majority share in Hypo-Alpe-Adria Bank. Together with Kärntner Sparkasse AG and Steiermärkische Bank und Sparkassen AG, Erste Bank submitted the letter of intent.

According to the announcement of Erste bank, the aforementioned three banks see significant potential of growth in the region of southeast Europe. Having in mind long experience and successful results on the occasion of similar transactions in the region, they expressed their belief that the merging of activities of Hypo Alpe Adria Bank International AG with the operations of these three banks in Croatia, Slovenia, Bosnia and Herzegovina, Montenegro and Serbia would be of use to clients, employees and stockholders.

All three banks are certain that the current owners will carry out transparent process for sale, in accordance with the regulations of European Union.