The AIK group of Serbian businessman Aleksandar Kostić purchased 74,9 percent of the shares of the Montenegrin Hipotekarna Banka for 75 million euros on the Montenegro Stock Exchange today.
The shares were purchased at a price of 9,77 euros.
Last week, AIK Group received approval from the Central Bank of Montenegro to take over majority ownership in Hipotekarna Banka.
"With the acquisition of Hipotekarna banka, AikGroup's net assets reach 10 billion euros, and the Group remains focused on further expansion in the region and providing value in the business environment through strategic investments in digitalization and customer experience. This finalizes the acquisition process that began in December 2024, when AikGroup signed an agreement to purchase 7.620.620 shares of this leading Montenegrin bank. After obtaining all necessary regulatory approvals from the Central Bank of Montenegro and the Agency for the Protection of Competition, as well as fulfilling all conditions for concluding the transaction, the agreement was implemented today at a price of 9,77 euros per share," the AIK Group said in a statement.
"With the acquisition of Hipotekarna banka, two strong financial institutions are combining their capacities, which will benefit clients and the local community. With a shared commitment to top-notch service, Hipotekarna banka Group will provide clients with greater resources and an expanded offer of traditional and innovative financial products. For AikGroup, establishing a strong foothold in the continuously growing Montenegrin market is a significant step towards achieving our growth strategy and taking the position of the leading bank in the region. We are pleased to welcome Hipotekarna banka to the AikGroup family," said Razvan Munteanu, President of the Executive Board of AikGroup.
"For decades, Hipotekarna Banka has built strong client trust as a leader in modern banking in Montenegro. By joining AikGrupa, we are opening a new phase of growth, strengthened by knowledge and regional experience, ready to provide even stronger support to clients and continue on the path that brought us to the top," said Esad Zaimović, President of the Board of Directors of Hipotekarna Banka.
The AIK Group consists of: AikBanka, AikLeasing and MV Investment in Serbia, as well as Gorenjska banka and GB Leasing in Slovenia. "As of 31 December 2024, AikGrupa's total assets amounted to EUR 8,9 billion, of which the net loan portfolio amounted to EUR 5,3 billion. The Group operated with a stable deposit portfolio of EUR 6,9 billion, with a strong capital base of EUR 1,3 billion," the statement reads.
Bonus video:
