Bulgaria's BACB to acquire 99.94% of Tokuda Bank

By bne IntelliNews April 16, 2024

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated.

The two banks are among the smallest in Bulgaria and their merger will not lead to a significant change of market share.

BACB plans to acquire 6.796mn voting shares in Tokuda Bank with a par value of BGN10 (€5.1) per share, BACB said in a statement without providing further details.

The deal will have to be approved by Bulgarian regulatory bodies – the central bank and the Competition protection Commission (CPC).

Currently, BACB is the 12th largest bank in Bulgaria with assets of BGN2.8bn as of end-2023. Tokuda Bank is the 17th largest bank with assets of BGN485.4mn as of end-2023.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russian MTS Bank raises $125mn in IPO on Moscow Exchange

Russian MTS Bank completed an initial public offering (IPO) at the upper end of the price range of RUB2,500 per share, floating 13.3% of the shares on Moscow Exchange, raising RUB11.5bn ($125mn) at a ... more

Russia’s VTB Bank surprises on 1Q24 profit of $1.3bn

Russia’s second-largest bank, state-controlled VTB Bank, posted RUB122bn ($1.3bn) net profit in 1Q24, making a return on equity (ROE) of 22%. Despite declining by 17% year on year, net income and ... more

Swedbank Lithuania's Q1 net profit down 15% y/y to €84mn, revenue up 25%

Swedbank Lithuania, one of the country's largest Scandinavian banks, said that its first-quarter net profit fell by 15.2% year on year to €84mn, BNS, a Baltic newswire, reported on April ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    4 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    6 days ago
  5. COLLINGWOOD: Ukraine’s power blackout means a dark future
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    30 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  4. Saudi Arabia to scale back plans for Neom city
    19 days ago
  5. Iran vs Israel: Who is better equipped for war?
    15 days ago

Reports

Dismiss