AIK Group to buy controlling stake in Croatia’s Podravska banka, extending EU reach

Regional banking consolidation is accelerating as AIK Group, controlled by Serbian businessman Aleksandar Kostić, moves to expand its footprint into the European Union. The group has signed share purchase agreements to acquire a controlling stake in Croatia’s Podravska banka, positioning the deal as both a scale play and an EU market entry.

Deal terms and ownership impact

Under the agreements, AIK Group will acquire 613,567 shares, representing approximately 91.75% of Podravska banka’s total share capital. That level of ownership would effectively secure majority control of the Croatian lender once the transaction is completed.

The pricing underscores the transaction’s size within Southeast Europe’s banking context. The agreed purchase price is around €68.79 per share, implying a total transaction value slightly above €42 million for the controlling stake.

Regulatory approvals and next steps

Completion is not yet final and remains subject to regulatory approvals across multiple jurisdictions. The approvals include those from the Croatian central bank and the European Central Bank, as well as competition authorities in several regional markets.

If and when the deal closes, AIK Group will also be required to launch a mandatory takeover offer for the remaining shares in line with Croatian capital market rules.

Why Croatia matters for AIK Group

The acquisition continues AIK Group’s broader expansion strategy across multiple markets. The group has already built a multi-market banking platform spanning Serbia, Slovenia, and Montenegro. Its recent track record includes acquiring a controlling stake in Hipotekarna banka in 2025 and earlier consolidation moves within Serbia’s domestic market.

Entering Croatia adds strategic weight beyond geographic diversification by bringing AIK Group into an EU-regulated banking environment. That exposure can strengthen its position within the wider European financial system and provide access to eurozone-aligned regulatory frameworks and funding channels.

A sign of shifting capital flows in Southeast Europe

More broadly, the transaction reflects a wider trend of consolidation across Southeast Europe as regional players scale through cross-border acquisitions. AIK Group stands out among locally anchored consolidators backed by domestic capital rather than earlier waves led primarily by Western European banking groups.

For Podravska banka, the deal introduces a new ownership structure supported by an expanding regional platform. For AIK Group, it reinforces its path toward becoming a multi-jurisdictional banking group with integrated operations across both EU and non-EU markets.

As regulatory approvals progress—expected to take place over the coming months—the outcome could also influence further consolidation activity in the region as competing groups seek scale, market share, and access to EU financial infrastructure.