Direktna Banka Kragujevac bought Piraeus Bank Belgrade

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Direktna Banka Kragujevac today officially bought 100% of the ownership of Piraeus Bank a.d. Belgrade from Piraeus Banking Group, with the aim of expanding its business and strengthening its position on the Serbian market.

Direktna Banka as a universal bank, aimed at servicing natural persons, as well as small and medium-sized enterprises, complements its offer of banking products and services in accordance with the requirements of the local market. Integration with Piraeus Bank a.d. Belgrade will provide better accessibility of the Direktna Banka to its clients, as this integration will increase the sales network of the bank by as much as 50%. Following the merger, expected in November 2018, the banks will operate under the name of Direktna Banka and will have a unified network of branches throughout Serbia and assets of approximately 500 million euros. Direktna Banka in the previous year, when it bought the Findomestic bank a.d. Belgrade, recorded a profit of 1.9 billion dinars, and with a positive trend of business continues in 2018, as evidenced by the profit of the first quarter of the bank this year in the amount of 118 million dinars.

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