Erste Bank, Austria's second-biggest lender, has offered EUR 14.7m to complete the purchase of Serbia's Novosadska banka and take full control of the company. Erste bought 83.3% of Novosadska in August, paying EUR 73.2m. Erste already operates in Croatia, the Czech Republic, Hungary and Slovakia and is bidding for Romania's Banca Comerciala Romana (seven bidders for a 61.88% stake for up to EUR 3bn).
Novosadska has a 2% market share in Serbia, where it operates 71 branches and serves 260,000 clients. Erste said it will invest about EUR 35m in Novosadska as it seeks to boost the number of branches to 120 and increase market share to 10%.