Greek Piraeus Bank became majority owner of Atlas bank, €19.5m

Greek Piraeus Bank has become the majority owner of Atlas bank by purchasing 80% of stocks of that bank for €19.5m.

Piraeus Bank has bought 81,934 stocks at price of 19,296 CSD, while the remaining 20% of assets of Atlas bank, i.e. 18,483 stocks, will be in the posession of companies ”Bukom kft” and ”Tavi trade”.

Piraes Bank announces that it will set new administative and supervisory board in Atlas Bank and expand the banking network in Serbia, which now consists of 11 branches in three cities. It will also increase number of credit services for the business sector, especially for small and mid-sized enterprises, and start approval of long-term mortgage and mid-term cash credits to citizens.

The plan is that the leasing company be opened for financing of automobile procurement with favorable interest rates, since the long-term financing sources will be provided.