New bank mergers follow: Serbia with four financial institutions less than last year

A few days ago, however, another purchase was announced, so when the merger of Raiffeisen and Credit Agricole Bank is completed, there will be one bank less.
Considering the announcements, there will be more such transactions in the coming months, Novosti writes.
The Central Bank of Serbia says that the position of clients will not be questioned, and that these changes have not reduced the quality of financial services, but have contributed to greater efficiency and resilience of the banking sector.
At the end of last year, the takeover of Komercijalna banka by NLB was completed, in April the merger of OTP banka with Vojvodjanska banka was completed, whereas MTS bank merged with Potanska tedionica Bank. The last purchase happened a few days ago.
"Credit Agricole SA decided to accept the offer of Raiffeisen Bank and signed an agreement on the sale of Credit Agricole Serbia and Credit Agricole Serbia Leasing with a local branch of the Austrian Raiffeisen Bank International AG," they told Novosti in Credit Agricole Bank.
"A partner has been carefully selected that is fully in line with the values ​​of our group, such as focus on customers and employees, transparency towards all stakeholders and responsibility towards the local community," the bank said.
The closure of this transaction is subject to the approval of the competent institutions and it is expected that this will happen by the end of the first quarter of 2022. Until then, the bank will continue to operate as Credit Agricole Serbia.
"The National Bank of Serbia (NBS) has been informed by Raiffeisen Bank that it has signed an agreement on the acquisition of 100 percent of the shares of Credit Agricole Bank, but to date we have not received a request for prior consent...