Two Local Banks to Merge Tomorrow

As of tomorrow, Banka Poštanska štedionica and mts Bank will operate as a single bank as mts Bank will be merged by acquisition to Poštanska štedionica, the National Bank of Serbia (NBS) announced.

– The merger by acquisition was carried with the NBS consent as it was assessed that all the stipulated conditions were met, i.e. the transaction is economically justified and will have a positive impact on the financial market in Serbia – the press release says.

This status change was recorded today at the Business Registers Agency, whereby Banka Poštanska štedionica has become a legal successor to all rights and liabilities of mts Bank, which has been deleted from the Agency’s register of companies.

– The aim of carrying out the status change of merger by acquisition is the unification of tasks of these two banks for the purpose of rationalization of operations and synchronization of business activities, and the achievement of a more efficient work process. As the Republic of Serbia is a direct and indirect founder with 100% stake in both banks, with this merger by acquisition, Serbia will exercise a direct influence in terms of more efficient control of the banks’ capital. The merger by acquisition will also have positive effects in terms of the increase in the number of clients through the offer of products and services of both banks, within the unified network which will cover the Republic of Serbia, including the development and application of information technologies needed for the development of new products and services. The hitherto clients of both banks will have access to all products and services offered so far by both banks – the NBS says in its press release.

Banka Poštanska štedionica a.d. Beograd

mts banka a.d. Beograd

Narodna banka Srbije Beograd

Banka Poštanska štedionica

mts banka

National Bank of Serbia

NBS

bank merger