Italian Intesa Sanpaolo will connect Bank Koper, its subsidiary in Slovenia, with Privredna banka Zagreb (PBZ), which is also owned by this banking group, announced representatives of the owners at a press conference at the headquarters of Bank Koper on Tuesday.
Intesa Sanpaolo will transfer 51 percent Bank Koper to PBZ as part of its regional development strategy, while it will retain about 48 percent ownership in the Slovenian bank, which will be renamed Intesa Sanpaolo Bank, said Ignacio Jaquotot, director of the international division of Intesa Sanpaolo, and Giancarlo Miranda, president of the management board of Bank Koper.
For such a step, they note, it is still necessary to obtain approval from the Slovenian banking regulator, i.e., the central bank, and all shareholders.
“We see many business opportunities and possibilities for expansion in the Slovenian market, not only through acquisitions but especially through organic growth,” said Ignacio Jaquotot, adding that Bank Koper operates stably and has a strong position.
He announced that the bank will now focus on retail and small business operations, as well as capital management, investment banking, and business restructuring, with the headquarters of that department being moved from Koper to Ljubljana, although the main headquarters of the bank will remain in Koper.
According to the balance sheet, which amounted to 2.27 billion euros last year, Bank Koper has increased its share in the Slovenian financial and banking market to 6.15 percent, and so far it has not incurred any losses.
Last year, it achieved a net profit of 11.8 million euros, which is more than double the profit achieved in 2014.
