Turks closer to acquiring Cacanska banka - Halk bank submits all documents necessary for takeover

Turkey's Halk bank is getting closer to acquiring a 76.7 percent stake in Cacanska banka.

The daily Blic cites its source as saying that the Turkish bank has submitted all the necessary documents for the takeover of this Serbian bank to the National Bank of Serbia and that it is only a matter of days before the central bank approves this acquisition. The price has not been negotiated yet. Turks are going to buy the state-owned stake of 28.4 percent as well as the stakes of the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and Beogradska banka in bankruptcy.

Halk bank is also interested in taking over all affiliates of Cacanska banka that employs 392 workers.

Cacanska banka achieved a positive business result last year, reaching the value of about EUR 27 million on the Belgrade Stock Exchange at the end of the previous week. Halk bank is the fifth largest bank in Turkey and the fastest growing bank in Europe since 2008. In its home country, this bank has 850 offices and a capital of USD 65 billion.

Halkbank AD Beograd

Halkbank a.d. Skopje Predstavništvo Beograd

Narodna banka Srbije Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

IFC

Beogradska banka a.d. Beograd

NBS

International Finance Corporation

IFC

EBRD