Belgium "KBC Security" to take over Serbian broker companies "Senzal" and "Hipobroker"

Belgium broker company "KBC Security" has announced that the agreement was reached on takeover of Serbian broker companies "Senzal" and "Hipobroker", as well as financial company "Bastion". According to the announcement, "KBC Security" intends to take over 100% of stocks of broker companies and 60% of stocks of Bastion, after which all three financial institutions will be merged into one - "KBC Security" Serbia.

The realization of agreement is on hold until the Government institutions give their consent. Belgium company states that the acquisitions in Serbia and recent purchase of company "Swiss capital" from Romania and "Ekvitas" from Hungary reflect the firm intention of "KBC Security" to develop on the markets on central and eastern Europe. Through investments into "Senzal", this company also takes over activities of that company in Montenegro, Macedonia and Bosnia and Herzegovina.

General Manager of the company, Gaj van Ećut, said that the decision on takeover of three companies in Serbia was made due to exceptional potential of Serbian financial market, which is more and more popular among the foreign investors.