Živković Samardžić, a leading independent law firm in Serbia, advised the shareholders of Eurobank Direktna on the sale of their 100% stake in Eurobank Direktna to AIK Banka.

Eurobank Direktna, based in Belgrade, operates across four segments: Retail, Corporate, Small Business, and Digital Banking, with a market share of 6% and a balance sheet of €2.4bn. It employs approximately 1,600 people and has 98 branches.

After merging with Direktna Banka, Eurobank Direktna became the 8th largest bank in Serbia, holding a market share of 5.5% in assets. The merger with AIK Banka will result in a combined bank with over 13% market share and a strong capital base of €800 million.

The transaction is subject to regulatory approvals and is expected to complete in the third quarter of 2023.

The Živković Samardžić team advising on this deal included Partners Branislav Živković, Sava Pavlović, and Uroš Đorđević.