Podgorica, (MINA-BUSINESS) – After submission of a request for merger by Crnogorska komercijalna banka (CKB) and Societe Generale banka Montenegro, the Central Bank will collect all relevant information and decide if the conditions have been met to approve this process.
“In compliance with its competencies, the CBCG will collect all relevant information in a formal decision making procedure, on the basis of which it will decide if the required conditions have been met for the approval of this merger, and what will be the impact of that transaction on the rest of the banking market,” the CBCG says in a press release.
The press release says that Chief Executive Officer of CKB informed the CBCG in mid-February about the plans of this financial company to acquire a 90.56 percent stake in Societe Generale banka Montenegro.
“However, the CBCG has not been informed about the concrete elements of the acquisition agreement concluded between these two companies,” the press release says.
Crnogorska komercijalna banka (CKB), the Montenegrin subsidiary of OTP Bank has signed an acquisition agreement on purchasing a 90.56 percent stake in Societe Generale banka Montenegro for €40.46 million.
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