The European Bank for Reconstruction and Development (EBRD) will invest up to €64 million in newly issued shares of AikGroup for a 5% stake, supporting the Serbian-led banking group’s expansion across Southeast Europe. The investment will give the EBRD a representative on AikGroup’s board as the group pursues a plan to increase consolidated assets from more than €10 billion to approximately €20 billion within three to five years.
AikGroup currently controls AikBank in Serbia, Gorenjska Banka in Slovenia and Hipotekarna Banka in Montenegro, as well as leasing and investment businesses. The group has more than 800,000 clients. Its expansion strategy combines organic growth with acquisitions, with Croatia becoming the next potential addition to its regional banking network.
Podravska banka acquisition expands regional footprint
AikGroup agreed this year to acquire approximately 91.75% of Croatia’s Podravska banka, a transaction that could add a fourth national banking market to the group’s existing operations. The planned acquisition follows a period of consolidation in Serbia, including the purchase of Eurobank Direktna, completed in 2023 and subsequently integrated with AIK Bank. The integration was completed in March 2025, with the combined institution continuing under the name AikBank. At that point, the enlarged bank had approximately €6.4 billion of assets and a loan portfolio of around €3.7 billion. The group is now extending its expansion beyond Serbia through its existing operations in Slovenia and Montenegro and its planned entry into Croatia.
EBRD investment includes governance and technical support
The EBRD’s participation extends beyond the provision of equity capital. Its representative on AikGroup’s board will provide the development bank with a direct role in the group’s governance as its operations and geographic presence expand. The partnership also covers digitalisation, cybersecurity, data governance and operational resilience.
Technical assistance will address requirements associated with the European Union’s Digital Operational Resilience Act (DORA), which sets cybersecurity and technology-risk requirements for financial institutions. AikGroup will also prepare a climate-transition plan aligned with the Paris Agreement. The plan will incorporate climate considerations into governance, strategy, risk management and disclosure.
AikGroup targets €20 billion in assets
AikGroup’s existing banking network gives it operations across Serbia, Slovenia and Montenegro, with Croatia potentially becoming the fourth national market. The group intends to more than double its assets from above €10 billion to around €20 billion over three to five years, relying on further acquisitions and organic growth. Reaching that target would require additional expansion beyond the planned acquisition of Podravska banka.
The enlarged regional platform could also increase AikGroup’s capacity to finance companies operating across Southeast European markets, including businesses involved in infrastructure, renewable energy, industrial modernisation, real estate and corporate acquisitions. The EBRD investment provides AikGroup with additional equity, board-level institutional participation and technical support as the group pursues its regional expansion strategy.
