Bank has purchased 75% stake in the Serbian brokerage and investment company, Synergy Capital. The bank has also maintained a call option for the remaining 25% of shares. Erste
Bank stated that the transaction has already been approved by local antimonopoly authorities, but is still awaiting approval from the country's securities commission.
Our view: Erste
Bank has already an established position in the banking sector, and it is clear that it targets strengthening its position in the investment banking. We view the news as neutral for the stock trading.