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Croatian regulator clears 2 bank takeovers

Hrvatska narodna banka allowed Hrvatska poštanska banka dd to acquire a qualifying holding in Jadranska banka dd Šibenik, the Croatian regulator said July 4.

The central bank also approved the proposed appointment of Mato Filipovic and Alan Herjavec as chairman and member of the management board at Jadranska banka. An agreement to acquire Jadranska was signed July 4 by Hrvatska poštanska banka and Croatia's State Agency for Deposit Insurance and Bank Resolution, which oversees Jadranska's financial recovery.

The central bank also approved the acquisition of Intesa Sanpaolo SpA's Croatian subsidiary Veneto banka dd by its sister unit Privredna banka Zagreb dd. The transaction is carried out as part of ownership restructuring within the Intesa Sanpaolo group and the optimization of its operations on the local market, Privredna banka said when the transaction was announced in April.