Serbian Investor Plans Entry into Austrian Addiko Bank

Addiko Bank has its origins in Austria and emerged from the restructuring and renaming of the former Hypo Alpe-Adria-Bank International AG, as reported by ORF. Following the restructuring, Addiko Bank focused primarily on the Central and South Eastern European market, with a network of subsidiary banks and branches in several countries in this region, including Croatia, Serbia, Bosnia and Herzegovina, Slovenia, and Montenegro. The bank focuses mainly on retail banking and serving small and medium-sized enterprises (SMEs) in these markets.

Agri Europe, a financial holding company, intends to purchase up to 3.3 million shares, or 17 percent of the bank's shares at a price of EUR 17.50 per share. In addition to Agri Europe, Infenity Management Limited, a company affiliated with Agri Europe, is also involved in the purchase. It plans to acquire a further 1.95 million shares, corresponding to 9.99 percent of the bank. Addiko Bank, based in Central and South Eastern Europe, focuses mainly on the needs of private customers and small to medium-sized enterprises (SMEs).

Miodrag Kostić's holding company already includes several credit and financial institutions in Southeastern Europe, including Gorenjska Banka, AIK Banka, Eurobank Direktna, M&V Investments, and GB Leasing. Agri Europe's planned investment in Addiko Bank could further strengthen the company's position in the region's financial sector.

Who is Miodrag Kostić?

Miodrag Kostić is a well-known Serbian businessman and one of the richest people in Serbia. He is mainly active in the agricultural and food industry and has made his fortune by building MK Group, a large company in this sector. MK Group is active in various business areas, including agriculture, sugar production, meat processing, and energy.

Miodrag Kostić has a significant role in the business and financial world of Serbia, which goes far beyond his activities in the agricultural industry. In addition to his activities in the agricultural industry, Kostic has also made investments in the financial sector, particularly in banking and financial services. He is known for his holdings in several banks in Southeast Europe, including those mentioned in the original text, such as Gorenjska Banka and AIK Banka. As Chairman of the Board of Directors of AIK Banka and for a second term as President of the Serbian Business Club "Privrednik", he has considerable influence. The Privrednik Club brings together 40 of Serbia's most successful entrepreneurs and works closely with chambers of commerce, business associations at home and abroad, and the Government of the Republic of Serbia to promote entrepreneurship and management in Serbia and attract foreign investors.

Kostić's involvement also extends to numerous local and international business associations, including the American Chamber of Commerce in Serbia (AmCham), the British-Serbian Chamber of Commerce, the Serbian-Italian Business Council, the Swiss-Serbian Business Association, the Serbian Association of Managers (SAM) and the National Alliance for Local Economic Development (NALED). These memberships underline his commitment to networking and promoting the Serbian economy on an international level.

In addition to his business activities, Kostić was also politically active. He served as Director General of the Democratic Party of Serbia from 1996 until the fall of Slobodan Milošević on October 5, 2000. Kostić has also made a name for himself as a philanthropist, supporting various social and cultural projects in Serbia and the region. Despite his success, he is a rather reserved public figure and keeps details of his private life largely out of the public eye.