The National Bank of Slovakia (NBS), country’s central bank, has permitted the J&T financial group to increase its interest in Poštová Banka. The trade, thanks to which the financial group will acquire the 88.055 percent share in the bank will now have to be okayed by the Antimonopoly Office, the TASR newswire reported on September 20.
“NBS’s consent to increase J&T group’s shareholder interest in Poštová Banka confirms the already demonstrated strategic partnership between J&T and the current majority stockholder in Poštová Banka - Istrokapital SE,” spokesperson for J&T, Nikol Kubaská, told TASR.
Both trading sides agreed on the deal last year. In 2010, Poštová Banka invested hundreds of millions of euros in Greek bonds, from which a haircut worth €275 million had to be deducted after the restructuring of the Greek debt. The bank received financial means from J&T in a similar volume before the haircut in return for an increase in the group's interest in the financial house.
Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
24. Sep 2012 at 14:00