Erste’s Serbian Unit May Consider Buying Hypo Alpe Subsidiary
Erste Group Bank AG (EBS)’s Serbian unit may consider buying the domestic business of Austria’s Hypo Alpe-Adria International AG if offered for sale separately.
Hypo Alpe, the third-biggest lender in the former Yugoslav nations, yesterday asked investors to submit initial bids for its units in Bosnia-Herzegovina, Croatia, Montenegro, Serbia and Slovenia.
“We would be interested to look at Hypo in Serbia if it was offered for sale separately,” Slavko Caric, chief executive officer of the Novi Sad, Serbia-based Erste Banka AD, told reporters in Belgrade today.
Hypo Alpe in Serbia was the sixth-biggest bank by assets at the end of June with a 6 percent market share, according to central bank data. Erste ranked 12th with a 3.4 percent market share.
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