History
| Sept 2000 | Fusion of the three Croatian banks Bjelovarska banka d.d., Cakovecka banka d.d. and Trgovacka banka d.d. into "Erste & Steiermärkische Bank d.d." |
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| Together, the Erste Bank and the Steiermärkische
Bank hold the majority of 75% of the shares in the Bjelovarska
banka and 97% in the Trgovacka banka. Moreover the Bjelovarska
banka directly holds 60% of share in the Cakovecka banka
d.d. With the fusion of these three banks, a new bank named
"Erste & Steiermärkische Bank d.d."
emerges in September 2000, in which the Erste Bank and the
Steiermärkische Bank und Sparkassen AG hold 40%. Bjelovarska banka d.d. was established in 1959 and has its head office in Bjelovar (East Croatia). Bjelovarska banka has total assets of EUR 225m, 195 employees and 19 branches. It is a keenly competitive supra-regional bank with a strong position in both private clients and corporate markets, particularly in the eastern part of the country. In February 2000 Bjelovarska banka acquired a majority interest in Cakovecka banka d.d., a small regional bank established in 1990 with its headquarters in the capital of the economically robust region of Medimurje (Northeast Croatia). With three locations, 62 employees and total assets of EUR 40m, the bank is well represented with small and medium-sized export-oriented businesses in Medimurje and in the greater Zagreb area. Trgovacka banka d.d., also established in 1990, has total assets of EUR 61m and around 145 employees. The bank principally caters for small and medium-sized businesses and private clients in the greater Zagreb area. It has a first-rate reputation for its standards of service and professionalism. By June 2000 the "Erste & Steiermärkische Bank d.d." is amongst the 10 largest banks in Croatia with a balance of 340 Mio.EUR, a share capital of 35,6 Mio. Euro, about 400 employees and over 30 branch offices. |
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| 29.04.2002 | Erste Bank acquires 85% of the Rijecka banka d.d. |
| In April 2002 the Erste Bank acquires 85% of the Rijecka banka, which belongs to the five largest banks in Croatia. With 74 branch offices, that for the most part are located on the North shore and the region surrounding Rijeka, the Rijecka banka compliments the presence of the Erste Bank in Croatia immensely. With this acquisition and including the subsidiary bank Erste & Steiermärkische Bank d.d, the Erste Bank increases its market share in Croatia from 4% to over 10%. Through this purchase the Erste Bank does not only strengthen its position in Central Europe, but also becomes one of the top banks in all of Europe, measured by its number of customers. | |
| 01.08.2003 | Erste Bank creates third-largest banking group in Croatia |
| The merger of the two Croatian subsidiaries
- Erste & Steiermärkische Banka and (acquired in 2002)
Rijecka banka - was successfully completed. With effect
from 1 August 2003, the two institutions were combined to
create Erste & Steiermärkische Bank (Erste Bank Croata),
the country`s third largest banking group. Erste Bank Croatia has some 600.000 customers and its 116 branches are located primarily in Istria and the Zagreb and the Rijeka areas. |
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