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UPI banka dd Sarajevo
Obala Kulina bana 9a
71000 Sarajevo
Tel.: +387 33 49 75 55
Fax: +387 33 49 75 89
http://www.upibanka.ba
upibanka@bih.net.ba
About:
The UPI Bank was established in 1972 as an internal bank of the corporate system of the Udružena poljoprivreda, prehrambena industrija i promet (Associated Agriculture and Food Industries and Sales), aimed at supporting the operations of these sectors, which at the time employed more than 35,000 workers. Upon the same principle, internal banks were also organized in other sectors, and the UPI Bank was among the strongest.
Since 1990, a new phase is coming in the development of the UPI Bank, when it was registered as a shareholding company and it is in a majority state ownership (92 per cent). The Bank starts with expansion of the network of corporate clients, focusing on the sector of small and medium entrepreneurship.
During the war in BH since 1992 -1996, the UPI Bank maintained its operations even under difficult conditions.
As early as from 2000, through the emission of shares, the Bank was fully transferred into the hand of private capital, even before the law on privatization came into effect.
We particularly stress that the UPI Bank has been in time about meeting all of its legal obligations in terms of census, and the like, as well as that it was among the first to obtain operating licenses. The UPI Bank was among the first in BH to obtain the certificate from the Deposit Insurance Agency.
Further increase of capital and development of the Bank were significantly boosted through obtaining of the credit line from the European Bank for Reconstruction and Development (EBRD), and since 2003, this financial institution also became one of the major shareholders of the UPI Bank.
Through the enclosed emission of shares of the EBRD, the Sarajevska pivara d.d. Sarajevo, Klas d.d. Sarajevo, Coning d.d. Varazdin (Croatia), and Bosna Re d.d. Sarajevo, have further increased the capital of the Bank.
For the five successive years, the UPI Bank paid dividend to its shareholders, and after the entry of the EBRD into the ownership structure, the profit was directed into capital strengthening.
During its past operations, the UPI Bank generated return on equity and on assets above the average European level.
The UPI Bank is one of the leading banks on the BH market and it has taken between the 3rd and 5th positions, depending on which indicators are considered. Viewed by deposits, it holds 4.5% of the market, by corporate loans 4.9%, by retail loans 2.0%, net total loans 3.3%, and assets 4.1%.
The major corporate event in 2005, opening up a new stage in development of the Bank, is the change of its ownership structure and involvement of the strategic partner Banca Intesa (Italy) as the majority shareholder.
In early 2005, activities were undertaken for selection of the strategic partner of the Bank, and invitations were sent out to the potential investors for submission of bids for acquisition of the majority package of equity shares. This initiative was responded by six banking houses. In the second round of selection, the representatives of four banking institutions conducted the due diligence of the UPI Bank, following which three bids were submitted.
The consortium of the largest shareholders of the UPI Bank selected the bid from Banca Intesa as the most favorable one and the procedure was undertaken to obtain the required regulator approvals in BH and in Italy. After obtaining of the necessary approvals from the Banking Agency of FBH and the Central Bank of Italy, on December 12, 2005, the sales transaction was announced at the Sarajevo Stock Exchange (SASE), and Banca Intesa became the owner of 35.03 % of the shares of the UPI Bank. In block transactions, Sarajevska pivara d.d. Sarajevo, Klas d.d. Sarajevo, Bosna Re d.d. Sarajevo, and Coning d.d. Varazdin (Croatia) sold their equity shares to Banca Intesa.
Pursuant to the agreement concluded with the majority shareholders of the UPI Bank (EBRD, Sarajevska pivara, Klas, Bosna Re, and Coning), Banca Intesa announced the public tender for the purchase of the rest of the shares by small shareholders.
The new owner of the UPI Bank is Banca Intesa (Italy), which in early 2006 acquired the majority package in the total amount of 81.2 % of shares. Prior to that, Banca Intesa purchased an equity share of 35.03% (80,208 shares) at the Sarajevo Stock Exchange in a transaction worth more than 31.7 million KM, following which, in accordance to the law, it was required to conduct a tender offer for the rest of the shares.
The tender offer pertained to gathering of 148,792 regular shares made in the name, each of 100 KM nominal value, which at the moment of issuance of the tender offer were not owned by the offeror. The price offered per share was 395.07 KM. Following completion of the tender, Banca Intesa became the owner of an additional 46.2% of shares, which together with the previously acquired share of equity makes up 81.2% of the UPI Bank shares.
EBRD (European Bank for Reconstruction and Development) retained the share of 10%, whilst the minority shareholders have 9.04% of the UPI Bank shares.
The UPI Bank has 16 corporate units, as well as a network of ATMs and POS terminals, and operates on the whole market of BH, in the Federation of BH, Republika Srpska, and Brcko District. The Bank is well positioned in these areas, of which the major ones are certainly the Sarajevo, Tuzla, and Central Bosnia Cantons, which are at the same time the most developed and most populated ones.
The UPI Bank has been included in the SWIFT since 1997, and it has been included in the WESTERN UNION network since 2002.
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