Banca Intesa Beograd

Banca Intesa Beograd (BELEX: DBBG) is a bank operating in Serbia, majority owned (93%) by Italian Intesa Sanpaolo and other 7% by International Financial Corporation, World Bank.

It was founded as Delta banka in 1991. In February 2005, Banca Intesa acquired 75% stake in the bank for €278 million. By August of same year its stake was increased to 90%.

Following the majority takeover finalization, Delta banka officially changed its name to Banca Intesa Beograd during fall 2005.

The bank has been trading on Belgrade Stock Exchange (BELEX) until November 17, 2006.

As a result of the August 2006 merger of Banca Intesa and Sanpaolo IMI banking groups, since January 1, 2007 Banca Intesa Beograd operated as member of the newly formed Intesa Sanpaolo group. Since Sanpaolo IMI owned Panonska banka in Serbia, a decision had to be made about the new group's future structure in Serbia. Initially, Banca Intesa Beograd and Panonska banka remained as separate entities.

However, as of January 1, 2008, Panonska banka has been merged into Banka Intesa Beograd.

According to its most recent annual financial report submitted to Serbian Economic Register Agency, the company has 3,006 employees and it posted an annual profit of RSD3,158,966,000 (approximately €39.5 million at the time) for the calendar year 2007.^[1]

References

1. ^ Finasijski izvestaj za 2007