Erste Group has submitted a letter of intent to purchase Hypo Alpe Adria Bank in Serbia, reports Belgrade’s Beta.
The Chairman of the Executive Board of Erste Group, Andreas Treichl, confirmed the intention, stating that they are awaiting a response from the Austrian bank and that if the offer is not accepted, they have a backup plan for expansion in Serbia.
– For Erste Bank in Serbia, 2012 was a successful year – Treichl assessed, adding that Serbia is an important market for the Erste Group, with growth potential.
He also sent a message to the Government of Serbia to develop a clear and long-term economic development strategy for the country and to form a ‘strong administration’ that will negotiate with the IMF and the EU.
– The outcome of these negotiations, which is crucial for Serbia’s future and the country’s ability to be competitive and attract foreign investments, depends on the capability of the state administration – Treichl pointed out.
