KBC bank took over A Bank

Belgian banking group KBC announced that it has taken over all 107.824 shares of A bank from Belgrade for 96,5 millions eur. As stated in the annoucement, the shares of A bank were purchased through a public tender - there was offered 72.773 dinars (894,98 eur) for one hsare, which is 5 times more than the nominal and market value of the shares.

The Executive Director of KBC group, Andre Bergen says that this bank recongized in Serbia one of the key financial markets at the Balkans and that as the majority owner of A Bank it will dedicate itself to a faster growth of the bank.

A Bank hires 375 workers in 42 departments, and the year of 2006 it has a final profit of 2 millions eur, with the total active money of around 57 millions eur and a total placement in credits of 23,2 millions eur, and at the Serbian market it has a share of about 0,3%.

The founder and the ex owner of A Bank Miroljub Aleksic estimated that integrating in the financial groupation as KBC, guaranties future and successfull carrier to all the emploees in the A Bank.

- I am assured that the intensive activities and future development of the bank at the market, together with the growing activities with insurance and the papers of value, will make possible for KBC bank to provide significant promotion within a short period of time at the Serbian market. - said Aleksic.