Metals Banka officially took over DDOR Banka, soon credit line worth €5-7m with EBRD

Director of Novi Sad-based Metals Banka, Ananije Pavićević, announced that that bank had officially taken over DDOR Banka, on the basis of the decision made by management of that financial company.

Side by side with the take-over of DDOR Banka, it is being worked on the contract on partnership with insurance company DDOR Novi Sad, which will become the biggest stockholder of Metals Banka with 19% of stocks. That contract will provide business space for expansion of organization network. Opening of over 50 branches all around Serbia until the end of 2005 is planned.

Already in June 2005, Metals Banka expects signing of the agreement with European Bank for Rehabilitation and Development on credit line for approval of credits to small and mid-sized companies with total of €5-7m.