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Privredna banka completes merger with former sister unit

Privredna banka Zagreb d.d. merged with subsidiary Veneto banka d.d., which it earlier acquired from parent Intesa Sanpaolo SpA.

The merger was registered in the commercial court in Zagreb, Croatia, on Oct. 12, with all the assets and liabilities of Veneto banka transferred to Privredna Oct. 13.

Privredna announced the acquisition of Veneto banka in April, saying at the time that the transaction was part of ownership restructuring within the Intesa Sanpaolo group. The takeover was finalized in July, after approval by the central bank.