AIK Group, led by Serbian businessman Aleksandar Kostić, has signed agreements to acquire a controlling interest in Croatia’s Podravska banka, marking a significant move into the European Union banking sector. The transaction involves the purchase of 613,567 shares, which constitutes approximately 91.75% of Podravska banka’s total share capital, thereby granting AIK Group majority control over the Croatian financial institution.
The financial terms of the acquisition highlight its significance within the regional banking landscape. The agreed purchase price is approximately €68.79 per share, resulting in a total transaction value exceeding €42 million for the controlling stake. However, the completion of this deal is contingent upon receiving regulatory approvals from various authorities, including the Croatian central bank and the European Central Bank, as well as competition regulators across multiple regional markets. Following the finalization of the acquisition, AIK Group will be obligated to make a mandatory takeover offer for the remaining shares in accordance with Croatian capital market regulations.
This acquisition aligns with AIK Group’s strategic goal of expanding its regional presence. The group has established a multi-market banking platform that includes operations in Serbia, Slovenia, and Montenegro. Notable past moves include acquiring a controlling stake in Hipotekarna banka in 2025 and other consolidation efforts within Serbia’s domestic banking sector.
Entering the Croatian market is strategically important for AIK Group as it gains access to an EU-regulated banking environment. This move not only enhances its position within the European financial system but also provides opportunities to engage with eurozone-aligned regulatory frameworks and funding sources.
The acquisition also reflects a broader trend of banking sector consolidation across Southeast Europe, where local players are increasingly pursuing growth through cross-border acquisitions. AIK Group stands out as one of the most proactive consolidators among domestic capital-led initiatives, contrasting with earlier trends dominated by Western European banks.
For Podravska banka, this deal represents a shift in ownership structure supported by a rapidly growing regional financial entity. For AIK Group, it reinforces its aspirations to become a multi-jurisdictional banking institution with integrated operations spanning both EU and non-EU markets.
Additionally, this transaction indicates a shift in capital dynamics within the region. Rather than foreign banks leading acquisitions or withdrawing from markets, local financial groups are taking charge in redefining the banking landscape by leveraging their regional expertise and regulatory knowledge to facilitate cross-border expansion.
As AIK Group awaits regulatory approvals, the deal is anticipated to close in the upcoming months. This may catalyze further consolidation among regional banking entities seeking enhanced scale and access to EU financial infrastructure.
