Russia's RTB takes over Tesla Savings Bank

Tesla Savings Bank is going to be acquired by RTB Capital, a company from Novi Sad owned by the Russian bank RTB (Russian Trade Bank), the daily Poslovni Dnevnik writes.

RTB Capital is the only investor to have answered the public call of the Development Fund of the Republic of Serbia and the Autonomous Province of Vojvodina to bid for the acquisition of shares in Tesla Savings Bank.

At the General Assembly of Tesla Savings Bank on Monday, the decision on recapitalization of the bank with EUR 5 million was backed unanimously, and the admission of shares will be done within the next month.

Tesla Savings Bank currently has 1.2 million euro in capital stock which would grow to EUR 6.2 million after the recapitalization.

- Admission of shares will be done in two rounds: the first see the admission of shares by existing shareholders, while all interested investors will be able to admit shares in the second round if the former fail to admit theirs - says Zvonko Agicic, the chairman of the Managing Board of Tesla Savings Bank.

By paying EUR 5 million, RTB Capital would acquire a qualified stake of 80.6% in Tesla Saving Bank, which is why the transfer of ownership must be preceded by a consent from the Croatian National Bank.