Cacanska Banka a d Cacak : Signed Agreement on Sale and Purchase of Shares in Cacanska banka

Turkish based Halkbank (Türkiye Halk Bankası A.Ş.) signed on Friday, 20 March 2015 the agreement on buying shares of Čačanska banka a.d. The agreement was signed with major shareholders of Čačanska banka: the Republic of Serbia, European Bank for Reconstruction and Development, International Finance Corporation and Beogradska banka in bankruptcy.

By the sale-purchase agreement, Halkbank, as the buyer, took upon itself the obligation to pay EUR 10.1 million for 139,680 shares owned by those four shareholders, which represents 76.74% of the shareholders capital of Čačanska banka. This amount will be paid in full in cash at the transfer of ownership over shares, not later than within 60 business days, after which Türkiye Halk Bankası A.Ş will officially become the majority owner of Čačanska banka.

Halkbank plans additional investments to secure the further development and growth of Čačanska banka. In addition to the recapitalization and expansion of the business network, investments are planned also in the IT, credit cards, development of the private banking segment, etc.

Halkbank was established in 1933. It has a prominent position in the Turkish banking sector as the sixth bank in Turkey in terms of assets, where they have a branch network of 886 branches with more than 15.000 employees.