The state sold Abanka for half a billion euros


Ljubljana – New KBM will deduct 444 million euros from Abanka, which means that the price, along with the dividend already paid, will reach 85% of the bank's book value. SDH today signed a sales contract with NKBM, and the buyer must obtain a license from the banking regulator and the competition watchdog for acquisition. The transaction must be completed by the end of the year.

The country has already received dividends of 180 million euros from Abanka within three years. Together with the aforementioned purchase price, it will cover the total amount of 543 million euros, which was reserved by the State in cash and part of the recapitalization of 242 million bonds for the rehabilitation of the bank and Babka Celje. SDH estimates that the sale of credits transferred to a bad bank will completely recover this state aid.

With the sale of Abanka, Slovenia has also fulfilled its commitments to the European Commission, which also means that, after privatization, the bank should no longer have any restrictions on its operations.

Chairman of the Board of Directors of Nova KBM John Denhof is satisfied with Abanka's purchase: "This historic moment is an exceptional opportunity for us and Abanka to create an even stronger common bank. Economies of scale will improve our market position and further enhance our competitiveness, which will enable us to achieve customers across Slovenia. "

As we reported yesterday, the merger of banks Ljubljana and Maribor is expected, which will bring the joint bank closer to our largest NLB bank by the balance sheet total. Even with the acquisition of NKBM, its owner, the Apollo Fund, has announced that it wants to become the largest in Slovenia.

After signing the contract, Igor Kr┼żan, Chairman of the SDH Management Council, said: "Until today's signature of the agreement with the client Nova Kreditna banka Maribor, SDH has fulfilled the commitments made by the Republic of Slovenia to the European Commission on authorized state aid. an important step in SDH's efforts to successfully complete privatization procedures through the acquisition of responsible and experienced investors who will support the development of companies and their transformation into more successful and more competitive companies.The buyer will acquire a bank good and stable, which is the third largest banking group in Slovenia. "


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