Bank from Maribor wants to take over Credy Banka

New credit bank from Maribor (NKBM), which is majority owned by the state, wants to take over Kragujevac-based Credy Banka, and the final decision will be made by the Supervisory Board of NKBM until the end of August.

The President of the Administration of NKBM, Matjaž Kavčić, gave "green light" for appraisal of Credy Banka, while the Vice President of the bank's Supervisory Council, Borut Svetina, did not exclude the possibility that the Council may start the procedure for takeover of the bank.

- We first need to carefully check the situation and examine the contracts, and then the Administration, rather than the Supervisory Council, should suggest business and investment plan before it makes the decision about takeover - said Svetina.

Credy Banka used to be the property of Kragujevac-based automobile manufacturer "Crvena zastava", and now its majority owner is Republic of Serbia, with the share of 55%.

The Administration of NKBM started thinking about takeover of Credy Banka when "Fiat" became strategic partner of "Crvena zastava" and announced 750m EUR worth of investments in that factory.

Possible takeover of that Kragujevac-based bank would accelerate the need for additional capitalization of NKBM, the funds for which have already been reserved by the Government of Slovenia in this year's budget.