Banco Popolare, following obtaining the authorizations from the competent authorities, executed the contract for the sale of its subsidiary Banco Popolare Croatia to OTP Banka Hrvatska, a bank controlled by the Hungarian group OTP. The consideration for the sale of the investment in Banco Popolare Croatia, equal to 106.977.375 Kunas (corresponding to approximately 14 million euro) was settled in cash.
Banco Popolare Croatia, acquired in 2006, has total assets as at 31 December 2013 of approximately 2,2 billion Croatian Kuna and has an operating structure made up of 33 branches and 292 employees. In mid-morning, the stock of Banco Popolare suffered in Piazza Affari, where it lost more than 1% a 15,13 euro.
