Živković Samardžić, one of Serbia’s leading full-service independent law firms, advised on the merger of Eurobank a.d. Beograd ("Eurobank Serbia"), a subsidiary of Eurobank S.A., with Direktna Banka a.d. Kragujevac ("Direktna"). The merger involved the absorption of Direktna by Eurobank Serbia (the "Transaction").

Eurobank Group, with assets totaling €67.7 billion and 11,394 employees across six countries, is a leading force in Greece's banking sector. In Serbia, after acquiring Poštanska banka and Nacionalna štedionica, Eurobank is now one of the top foreign investors and financial institutions.

Direktna is a modern, domestic universal bank, focusing on retail and business banking. It was formed through the acquisition of KBM Bank, Findomestic BNP Paribas, and Piraeus Bank a.d. Beograd.

The combined entity, "Eurobank Direktna," will have assets exceeding €2 billion, equity above €300 million, and projected pre-provision income and net income of over €50 million and €35 million, respectively. With a market share of over 6.5%, it will be the seventh-largest bank in Serbia.

Upon completion, Eurobank will control approximately 70% of the combined bank, with Direktna's shareholders holding the remaining 30%. Both parties have committed to a growth-driven business plan with expansion targets to support the Serbian economy. The Transaction includes a dividend/capital return to Eurobank and is capital-neutral, with a 3% earnings per share (EPS).

The transaction is awaiting approval from regulatory authorities and is expected to be finalized in the fourth quarter of 2021. The Živković Samardžić team, that provided legal assistance to both banks was led by partners Branislav Živković, Uroš Đorđević, and Sava Pavlović.