Cyprus-based Laiki bank - new owner of Centrobanka

Cyprus-based Laiki bank had become the new owner of Centrobanka from Belgrade by procurement of 90.43% of its stocks, that Belgrade-based bank announced, but it did not stated the value of the transaction. According to the announcement, at the meeting of the Assembly of stockholder of Centrobanka, which is schedulled for January 25, the new members of the Administrative and SUpervisory boards of the bank will be appointed. The integration into the system of Laiki bank will follow very soon. On December 23, 2005, the bank from Cyprus announced offer for takeover of at least 59.42% of stocks of Centrobank at price of 1,700 CSD per stock. The offer was closed on January 12, 2006. Previously, Laiki bank signed contract with part of stockholders of Centrobank in November 2005 and obliged to buy 76% of stocks for about 40m EUR and to carry out additional capitalization in total amount of 30m EUR. The biggest stockholder of Laiki bank is one of the most famous world financial institutions HSBC group with the headquarters in London, which operates in 77 countries through its 9,800 branches. By obtaining of new owner, Centrobanka becomes regional financial institution that will deal with corporate and insurance businesses, leasing and investment banking. Centrobanka was founded 25 years ago, it owns capital of 18m EUR and serves 50,000 clients inside business network of 30 organization parts.