Erste bank, first ranked buyer for Novosadska bank, planed investments from 35 million EURO, increased number of branches...

Austrian Erste bank is pleased that it has been chosen as the best offer maker for tender on sale of public shares in Novosadska bank. Offer of Erste bank, for buying out 83,28% of Novosadska bank, is valued at 73,167 million EURO.

Erste bank is planning to invest over 35 million EURO by the end of 2009 in increasing the capital of Novosadska bank. It is estimated that the number of branches will increase for 70%, from current 71 to 120%, as will they renew the technical capacity. With that conditions will be met to increase shares on Serbian market from 2% to approximately 10%, in the next 5 years.