Austrian bank Steiermaerkische Sparkasse has bought Invest bank a.d. Skopje - 36,9 million EUR for 96% shares

Savings bank, "Steiermaerkische Sparkasse" has taken over almost 96% of Invest bank a.d. Skopje shares, for 36,9 million EUR (151 EUR per share), and has become the first Austrian bank to enter Macedonian market. In order to finish this deal, it is necessary to get approval by the Macedonian Commission for competition protection.

Before accepting the offer, given by "Steiermarkische Sparkasse", the Macedonian bank had more than 400 share holders. Besides Macedonian companies and individuals, two main share holders were the Slovenian fund, "Poteza", with 16%, and "Slavia Capital", from Checz Republic and Slovakia, with about 11% of the shares.

Invest bank a.d Skopje has about 3% share in the market, which makes it a medium sized Macedonian bank. On the day of June, 30th, 2008, bank's balance was 121 million EUR, it had a capital of 17 million EUR, 62 million EUR in the deposited money, and 121 million EUR in money loans. Last year, the bank had made net profit of about 4 million EUR. Invest bank's shares are auctioned at the stock exchange in Skopje.

"Steiermarkische Sparkasse" has presently dependent banks and leasing companies in Slovenia, Croatia, Montenegro, Serbia, Bosnia and Herzegovina.

Austrian savings bank has 26% share in Erste bank Novi Sad, Serbia, and 50% in the Belgrade based "S Leasing".