Hypo Bank resumes operations in Serbia and the region - EUR 2 billion investment by 2022

The banking group Hypo Alpe Adria will continue to operate and invest in Serbia and the region, where we plan to implement an investment of over EUR 2 billion by 2022, Chairman of the Hypo Group Executive Board Urlich Kissing, who assumed the position of head of operations in Serbia, Croatia, Slovenia, Bosnia-Herzegovina and Montenegro in mid-July, said Tuesday in Belgrade.

Hypo Bank will focus on expanding retail and SME operations as well as business in all spheres with a big growth potential, Kissing told the press.

Kissing also noted that operations with companies and public sector were not going to be halted, stressing that a quicker than average growth was expected in the field of retail and SME operations.

- Investment of over EUR 2 billion for liquidity and capital will allow for the business to develop - he said and pointed out that banks would also have to develop their own base for financing over time.

Kissing noted that the fund Advent and the European Bank for Reconstruction and Development (EBRD) as investors in the financial sector were famous for developing the business, adding that they had not take over the Hypo Group to quickly resell it.

- Our intention is to invest and develop business on a sustainable and profitable basis - Kissing underlinedd.

When asked whether they would be interested in acquiring a Greek bank in Serbia if put up for sale, Kissing said that they were currently focused on improving and developing their own business, adding they also had very a rigid frame as to the price they're willing to pay for a bank.

The Hypo Group has about 1.2 million users and 250 affiliates in five countries of the region.
The investment fund Advent and the EBRD completed the takeover of the Hypo Group Alpe Adria from Heta Asset Resolution in July 2015.

Addiko bank ad Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

Hypo Alpe Adria

Hypo group

Ulrich Kissing

Advent

European Bank for Reconstruction and Development

Heta Asset Resolution