Extremely profitable for Eurobank is the deal of the subsidiary of Eurobank Serbia, which absorbs the bank Direktna. The agreement includes a condition that with the merger a total amount of 232 million euros will be returned to the parent Greek Eurobank in the form of a dividend and return on capital.
As announced, the absorption merger procedures were completed after the required approvals were granted by the supervisory authorities.
The consolidated bank (“Eurobank Direktna”), in which Eurobank controls 70%, has a strong capital base and high liquidity. With a market share of 6.5%, it is ranked seventh in terms of total loans.
The transaction is in line with Eurobank’s strategy for further expansion of its international operations and the creation of added value for its shareholders through targeted acquisitions and amalgamations.