Business News

SKB assembly fills management board

Ljubljana, 23 July (STA) - The assembly of Societe Generale-owned SKB Banka filled vacancies on the nine-member management board on Tuesday by appointing two new members. The French group has signed an agreement on selling the bank and its subsidiaries to the Hungarian OTP Bank Group and the board is expected to change after the completion of the takeover.

The assembly appointed Milan Žiaran the SKB's new CEO and Manica Novak a board member to have them join Jean-Philippe Guillaume, Pierre-Yves Demoures, Maria Koytcheva Rousseva, Clara-Elen Grigore, Milorad Katnić, Vojka Ravbar and Andre Gardella.

The OTP takeover is expected to be completed by late autumn this year.

In line with a counter proposal, tabled today by Societe Generale, the management board will change after the bank's sale - the board members will be Zsolt Barna, Imre Bertalan, Anna Florova Mitkova, Branko Miksa, Draga Cukjati and Anita Stojčevska, with Ravbar, Žiaran and Novak keeping their seats.

The French group, which acquired SKB Banka in 2001, decided to leave the Slovenian market after selling its banks in Croatia, Serbia, Albania and Bulgaria by signing an agreement with Hungarian OTP Bank Group on selling the SKB bank and its subsidiaries in May.

The takeover will be completed pending approvals of both banking regulators, Banka Slovenije and the European Central Bank, as well as competition regulators.

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