Commission for Protection of Competition approves acquisition of Piraeus Bank by Direktna Banka

The Commission for Protection of Competition of Serbia approved the acquisition of Piraeus Bank Belgrade by Direktna Banka Kragujevac.

In mid-October, Direktna Banka contracted the purchase of Piraeus Bank and announced that the acquisition would be completed by the end of the first quarter of 2018 following the obtaining of all the necessary approvals by the competent institutions. The purchase of Piraus Bank is conditioned on the usual corporate and regulatory permits, including those issued by the National Bank of Serbia.

Following the acquisition of Piraues Bank Belgrade, owned by the Greek Piraeus Bank, Direktna Banka will have around 60 branch offices and over 800 employees. The value of its property is expected to amount to over a half a billion euros.

Direktna Banka is owned by businessmen Andrej Jovanovic and Bojan Milovanovic, and was formed in early 2016 when KBM Bank Kragujevac was bought by Nova Kreditna Banka Maribor.

This year, Direktna Banka also bought Findomestic Bank Belgrade.

Eurobank Direktna a.d. Beograd

Piraeus bank a.d. Beograd

Komisija za zaštitu konkurencije Srbije

Findomestic banka a.d. Beograd

Narodna banka Srbije Beograd

Nova kreditna banka DD Maribor u Beogradu

Direktna Banka Kragujevac

Piraeus Bank Belgrade

Commission for Protection of Competition

Findomestic Bank

KBM Bank Kragujevac

National Bank of Serbia

Nova Kreditna Banka Maribor

Adrej Jovanovic

Bojan Milovanovic

banking market

banking acquisitions

Piraeus Bank