In one of the largest financial transactions on the Montenegro Stock Exchange in recent years, Serbian businessman Aleksandar Kostić has expanded his regional banking presence through the acquisition of Hipotekarna Banka.
AIK Banka, part of Kostić’s financial group, has purchased a 74.9% stake in the Montenegrin bank for €74.98 million. The transaction involved the sale of 7.67 million shares at €9.77 per share, effectively transferring ownership of the majority stake and positioning AIK Banka as the new controlling shareholder of one of Montenegro’s last remaining domestically-owned banks.
The Central Bank of Montenegro (CBCG) approved the acquisition last week, following a comprehensive review of regulatory requirements, including the buyer’s financial standing, the origin of funds, and strategic plans for the bank’s future.
With this move, AIK Banka strengthens its footprint in the Adria region’s financial sector, signalling further consolidation and cross-border investment in the banking industry.
