The Development Fund of the northern Serbian province of Vojvodina has so far invested six million kuna in A Stedna Banka Malog Poduzetnistva d.d Zagreb, and it will invest another 100 million kuna in the bank which will change its name to Tesla Banka, the business system Spectator, which includes A Stedna Banka, said in a statement on Wednesday.
The Council of the Croatian National Bank (HNB) earlier in the day gave its consent to the Development Fund of the Autonomous Province of Vojvodina to acquire a share of more than 50 percent in A Stedna Banka, partly by buying ordinary shares and partly by injecting fresh capital.
The HNB Council thus approved the continuation of the Tesla Banka project in Croatia.
The Vojvodina Development Fund is a good institutional partner that will provide additional guarantees for the success of this commercial project, said Tanja Radovcic of Spectator.
