Erste Bank enters Serbian investment banking market with purchase of broker company "Synergy Capital"

Erste Bank AG has bought 75% of the assets of company "Synergy Capital", the leading broker and investment company in Serbia. Erste Bank has optional right to purchase remaining 25% of stocks that are not in private possession.

Company "Synergy Capital" was founded in 2003, it employs 20 experts and 10 industrial specialists and external councilors, who took part in the largest tender privatizations in Serbia.

The acquisition has already been approved by the Antimonopoly Commission of Republic of Serbia, while the permit from the Securities Commission is expected. Thanks to this transaction, Erste Bank became the second largest stockholder at Belgrade Stock Exchange, with the ownership share of about 14%.