Hansapank-Hoiupank merger a reality

  • 1998-07-16
  • Kairi Kurm
TALLINN – Shareholders of Hoiupank and Hansabank approved the proposal to merge the two banks July 12. Almost all Hansabank shareholders – 99 percent – and 57.6 percent of Hoiupank shareholders voted for the merger. Only 46 percent of Hansapank's shareholders were present instead of the necessary 50 percent and the rest had to be called. The long-awaited merger will create the largest bank and financial group in the Baltic states with assets totalling 25 million kroons ($1.7 million). The central bank approved the merger July 13.The operations of Hoiupank will be wound up as of July 20 and ...
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