AikGroup Acquires 74.9% Stake in Hypoteka Bank in Montenegro
Strategic acquisition marks significant expansion for AikGroup in Southeast Europe’s financial landscape.
AikGroup, one of the fastest-growing financial groups in Southeast Europe owned by Aleksandar Kostić, officially announced today its acquisition of 74.9% of the shares of Hypoteka Bank based in Montenegro.
This acquisition increases AikGroup’s net assets to €10 billion, continuing the company's focus on regional expansion and enhancing business value through strategic investments in digitalization and customer experience.
The acquisition process, which began in December 2024, was solidified when AikGroup signed an agreement to purchase 7,620,620 shares of the leading Montenegrin bank.
The transaction was completed following the receipt of all necessary regulatory approvals from the Central Bank of Montenegro and the Agency for the Protection of Competition, with the share price set at €9.77.
Razvan Munteanu, the Chairman of the Executive Board at AikGroup, stated, "With the acquisition of Hypoteka Bank, two strong financial institutions are combining their capacities, benefiting clients and the local community.
Our joint commitment to excellent service will enable Hypoteka Bank's clients to access greater resources and a broader offering of traditional and innovative financial products.
Establishing a solid foothold in the growing Montenegrin market is a significant step towards executing our growth strategy and positioning ourselves as a leading bank in the region.
We are pleased to welcome Hypoteka Bank to the AikGroup family."
Esad Zaimović, the Chairman of the Board of Directors at Hypoteka Bank, commented, "Hypoteka Bank has built strong client trust over decades as a leader in modern banking in Montenegro.
By joining AikGroup, we are opening a new phase of growth, empowered by expertise and regional experience, ready to provide even stronger support to our clients and continue along the path that has led us to the top."
In 2023, AikGroup underwent a strategic transformation and rebranding effort, which included a name change and a new visual identity.
The group introduced a modern symbol known as the 'wayfinder', representing its commitment to clients and the creation of the best user experience.
This symbol embodies promises of agility, understanding, and support for clients navigating the dynamic and complex world of finance, regardless of their generational background.
This acquisition increases AikGroup’s net assets to €10 billion, continuing the company's focus on regional expansion and enhancing business value through strategic investments in digitalization and customer experience.
The acquisition process, which began in December 2024, was solidified when AikGroup signed an agreement to purchase 7,620,620 shares of the leading Montenegrin bank.
The transaction was completed following the receipt of all necessary regulatory approvals from the Central Bank of Montenegro and the Agency for the Protection of Competition, with the share price set at €9.77.
Razvan Munteanu, the Chairman of the Executive Board at AikGroup, stated, "With the acquisition of Hypoteka Bank, two strong financial institutions are combining their capacities, benefiting clients and the local community.
Our joint commitment to excellent service will enable Hypoteka Bank's clients to access greater resources and a broader offering of traditional and innovative financial products.
Establishing a solid foothold in the growing Montenegrin market is a significant step towards executing our growth strategy and positioning ourselves as a leading bank in the region.
We are pleased to welcome Hypoteka Bank to the AikGroup family."
Esad Zaimović, the Chairman of the Board of Directors at Hypoteka Bank, commented, "Hypoteka Bank has built strong client trust over decades as a leader in modern banking in Montenegro.
By joining AikGroup, we are opening a new phase of growth, empowered by expertise and regional experience, ready to provide even stronger support to our clients and continue along the path that has led us to the top."
In 2023, AikGroup underwent a strategic transformation and rebranding effort, which included a name change and a new visual identity.
The group introduced a modern symbol known as the 'wayfinder', representing its commitment to clients and the creation of the best user experience.
This symbol embodies promises of agility, understanding, and support for clients navigating the dynamic and complex world of finance, regardless of their generational background.
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