Nova KBM today announced the completion of its acquisition of Abanka d.d. in which Nova KBM has become the owner of 100% of the shares of Abanka, having obtained required regulatory approvals.
Nova KBM intends to fully merge and integrate the two entities into one, creating a strong, nationwide bank. The process is expected to occur gradually in several phases, under the supervision of the regulatory authorities. The merged bank will have assets in excess of €8.5 billion and over 1000 banking touchpoints, far more than any other bank in the country, due to the strategic partnership with the Post of Slovenia.
The completion of the transaction will not bring any significant changes for clients from the outset, as they will continue to be served by their respective bank. The future merged bank will offer both retail and corporate clients a complete set of financial products and services, seamlessly, across a combined network of branches and online channels. The merged bank will leverage the best practices, products and innovations from each organization, effectively benefiting from the best of both worlds.
This merger will bring significant benefits to all stakeholders:
The main beneficiary of the merger will be the customers:
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Customers can expect an expanded and more accessible network with more ATMs, branches and service points nationwide, as well as enhanced digital channels.
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Likewise, customers will benefit from an even stronger product and service offering, through the combination of the very best of what Abanka and Nova KBM respectively offer. The merged bank will invest in convenient mobile- and internet-banking platforms, leading product offerings and very competitive pricing and service.
Also, the employees will see positive changes from the merger:
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The combined bank will be an employer of choice, without question one of the best addresses in Slovenia for employees to learn modern banking and work on exciting and transformational projects while developing their professional skills.
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Employee training and development will be a key focus for the merged bank. Fundamentally valuing meritocracy and teamwork, the merged bank will offer unparalleled opportunities for continuous development of people, the most important resource.
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The larger, stronger merged bank will help attract the very best talents from across Slovenia and the region, which will enhance the merged bank’s position as the leading bank of choice.
A strong, stable and sustainably profitable bank is good for the market and economy:
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The merged bank will be able to support its clients even more effectively, by providing reliable banking services and access to financing, enabling clients to succeed in their endeavors.
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Through further investments, the merged bank will be better equipped to respond to evolving market challenges, thereby benefiting the whole economy and banking eco-system.
John Denhof, president of the Management Board of Nova KBM, said “Our acquisition of Abanka is an exciting milestone in the continued successful evolution of our bank. Abanka and Nova KBM are both strong organizations with sizable and loyal customer and employee bases, leading brands and effective track records. By combining both banks and leveraging our mutual strengths, we will create greater opportunities to support our clients and local communities with better products and services, more convenient channels and innovative solutions. Together, we expect to create the best bank in Slovenia, one that will be sustainably profitable and focused on customer needs while remaining fully compliant with existing and emerging regulation.”
Jože Lenič, MSc. president of the Management Board of Abanka, said “Connecting Abanka and Nova KBM is an important and positive step. We are convinced that together with Nova KBM we will continue to fulfill our mission - to offer our esteemed clients the most competitive services tailored to their needs. The expected merger of the two banks will create new opportunities for our employees who are committed to providing excellence in all aspects and eager to learn new skills. By combining the best of both banks and investing in products, services and employees, we will together create a bank that will be the best choice for our customers and employees. Together, with Nova KBM we set out on a shared journey with great expectations.”
Andrej Fatur, chair of the Supervisory Board of Nova KBM, said “The acquisition of Abanka by Nova KBM is a historic milestone for the Slovenian financial services market. The future merged bank will be well positioned to offer the very best products and services, with the widest network of most convenient service points across Slovenia.”
