The AIK group, led by Serbian entrepreneur Aleksandar Kostić, has acquired 74.9% of the shares in Montenegrin Hipotekarna Banka for 75 million euros via the Montenegro Stock Exchange today.

The shares were bought at a rate of 9.77 euros each.

Previously, AIK Group secured approval from the Central Bank of Montenegro for majority ownership of Hipotekarna Banka last week.

“With the purchase of Hipotekarna Banka, the net assets of AIK Group rise to 10 billion euros. The Group is committed to further regional expansion and enhancing the business landscape through strategic investments in digitalization and customer experience. This acquisition concludes a process initiated in December 2024 when AIK Group signed a deal to acquire 7,620,620 shares of this prominent Montenegrin bank. Following the approval from the Central Bank of Montenegro and the Agency for the Protection of Competition, as well as meeting all transaction conditions, the agreement was executed today at a price of 9.77 euros per share,” stated AIK Group in a press release.

“This merger of two robust financial institutions is designed to benefit both our clients and the local community. With a shared dedication to exceptional service, the Hipotekarna Banka Group will offer clients increased resources and a broader range of traditional and innovative financial products. For AIK Group, establishing a solid presence in Montenegro’s expanding market marks a crucial step in fulfilling our growth strategy and solidifying our position as a regional banking leader. We are excited to incorporate Hipotekarna Banka into the AIK Group family,” remarked Razvan Munteanu, President of the Executive Board of AIK Group.

“Hipotekarna Banka has cultivated strong client trust for decades as a leader in contemporary banking in Montenegro. Joining AIK Group allows us to embark on a new growth trajectory, backed by expertise and regional insights, ready to provide even more substantial support to our clients and continue our journey to the top,” stated Esad Zaimović, President of the Board of Directors of Hipotekarna Banka.

AIK Group includes AikBanka, AikLeasing, and MV Investment in Serbia, along with Gorenjska Banka and GB Leasing in Slovenia. “As of December 31, 2024, AIK Group’s total assets were valued at EUR 8.9 billion, with a net loan portfolio of EUR 5.3 billion. The Group maintained a stable deposit portfolio amounting to EUR 6.9 billion, supported by a strong capital base of EUR 1.3 billion,” the statement adds.

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