Posted by meb at February 28th, 2007

Italian bank UniCredito Italiano SPA (UCI) has handed over its 50 percent of shares in Koç Financial Services Corp. (KFH) to Bank Austria Creditanstalt AG. UCI announced they were combining their direct and indirect banking participation in Central and Eastern Europe — excluding Bank Pekao SA in Poland — under the roof of Bank Austria Creditanstalt AG, which is already a subsidiary of UCI. Bank Austria Creditanstalt said they applied to the Banking Regulation and Supervision Agency (BDDK), the Capital Markets Board (SPK) and the Treasury because of the direct handovers in KFH and indirect handover in Yapı ve Kredi Bank. Bank Austria says that the handover will not cause any administrative changes.

source: Today’s Zaman

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