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     finance privatisations

This page highlights privatisation of finance sector enterprises.

It covers -

• Europe
• Latin America
• Middle East and Asia
• Africa

The chronology is indicative only. Context is provided by the broader timeline elsewhere on this site and the note on finance sector M&A benchmarks.

     Europe

Austria

1995 Salzburger Sparkasse (70%) US$188m
1996 Hypo Niederoesterreichische (26%)
1996 Oberoesterreiche Hypo (49%) US$158m
1997 Creditanstalt (70%) US$1.58bn
1998 Bank Austria (9.6%) US$389m
1998 Salzburger Landes-Hypothekenbank (50.01%)

Belgium

1995 Credit Agricole/Landbouw Krediet US$55m
1996 Credit Communal de Belgigue (34.5%) US$1.1bn
1996 Credit Agricole/Landbouw Krediet US$33m
1998 ASLK-CGER (25.1%) US$1.5bn

Bulgaria

1997 United Bulgarian Bank (65%) US$30m
1998 Post Bank (78.23%) US$38m
1999 Express Bank (67%) US$39m
2000 Bulbank (98%) US$345m
2003 DSK Bank (100%) US$336m

Croatia

1996 Zagrebacka Bank US$25m

Czech Republic

1995 Komercni Bank (4%) US$85m
1996 Komercni Bank (3%) US$50m
1998 Investicni a Postovni Banka (36%) US$82m
1999 Ceskoslovenska Obchodni Banka (69%) US$1.1bn
2001 Komercni Bank (60%) US$12bn

Denmark

1993 Girobank (51%) US$110m

France
1987 Banque Paribas (100%) US$2.74bn
1987 Banque de Batements de Travaux Publics (100%) US$67m
1987 Banque Industrialle & Mobiliere Privee (100%) US$60m
1987 Credit Commercial de France (100%) US$732m
1991 Credit Local de France (22%) US$340m
1993 Credit Local de France (30.5%) US$738m
18993 Banque Nationale de Paris (60%) US$4.92bn
1995 Banque Francaise du Commerce Exterieur US$500m
1998 CIC (67%) US$2.2bn
1998 Societe Marseillais de Credit (100%) US$1.79bn
1999 Credit Lyonnais (90%) US$ 6.96bn
1999 Credit Foncier de France (90.6%) US$700m
2001 Banque Hervet (90%) US$413m
2001 Credit Agricole US$3.15bn
2002 Credit Lyonnais (10.9%) US$2.2bn

Germany

1935/7 Deutsche Bank und Disconto-Gesellschaft (38.5%) RM50m
1936/7 Commerz– und Privatbank (71%) RM57m
1936/37 Dresdner Bank (97%) RM141m
1988 Deutsche Verkehrs–Kredit–Bank (DVKB) (24.9%) US$34m
1989 Deutsche Siedlungs-Und Landesrentenbank (48%) US$241m
1995 Deutsche Kreditbank (DKB) US$3.23bn

Greece

1991 Bank of Piraeus (67%)
1993 Bank of Athens (67%)
1998 Macedonia Thrace Bank (33%)
1998 General Bank (33%)
1998 Bank of Crete (97%)
1998 Bank of Central Greece (51%)
1999 Ionian Bank (51%)
2000 Hellenic Industrial Development Bank (30%)
2000 Commercial Bank (7%)
2000 Agricultural Bank (13%)
2002 Hellenic Industrial Development Bank (67%)
2003 National Bank of Greece (11%)
2004 General Bank (22%)

Hungary

1994 Magyar Kulkereskedelmi Bank (MKB)
1995 Orszagos Takarekpenztar (33%)
1995 Mezobank (88%)
1995 Budapest Bank (48%)
1995 Magyar Hitel Bank (89%)
1997 Orszagos Takarekpenztar (42%)
1997 Takarekbank (100%)
1997 Kereskedelmi es Hitelbank (65%)

Iceland

1998 National Bank of Iceland (15.75%) US$24.5m
1998 Iceland Investment Bank (49%) US$67m
1998 Bunadarbanki (8.5%) US$10m
1999 Iceland Investment Bank (51%) US$136m
1999 National Bank of Iceland (45.8%) US$138m
2002 Landsbanki (100%)

Italy

1985 Banca Commerciale Italiana (12%) US$118m
1991 Banco di Napoli (9.7%) US$323m
1991 Credito Italiano (7%) US$140m
1992 Istituto Bancario San Paolo (20%) US$709m
1993 Credito Italiano (58%) US$1.07bn
1994 Istituto Mobiliare Italiano (30%) US$1.5bn
1994 Banca Commerciale Italiana (54%) US$1.7bn
1995 Istituto Mobiliare Italiano (3.5%) US$733m
1996 Istituto Mobiliare Italiano (6.93%) US$327m
1997 Istituto San Paolo di Torino (46%) US$730m
1997 Banca di Roma (36.5%) US$1.7bn
1997 Banco di Napoli US$39m
1997 Cariplo Bank US$5bn
1998 Banca Nazionale del Lavoro (85%) US$4.6bn
1999 Banca Monte dei Paschi di Siena (27) US$2.3bn
1999 Mediocredito Centrale (100%) US$2.14bn
1999 Banca Regionale Europea (56.73%) US$1.42bn

Latvia

1996 Latvijas Unibanka (23%) US$10m

Lithuania

2002 Lithuanian Agricultural Bank (76%) US$20m

Macedonia

1997 Stopanska Banka (55%) US$17m

Malta

1999 Mid-Med Bank (67%) US$250m

Norway

1993 Christiania Bank (22%) US$259m
1995 Christiania Bank (17%) US$150m
1995 Fokus Bank (96%) US$291m
1996 Den Norske Bank (19.8%) US$376m
1996 Union Bank of Norway US$275m
1999 Christiania Bank (16%) US$348m
2000 Christiania Bank (35%) US$2.9bn

Poland

1994 Bank Slaski (30%) US$64m
1995 Bank Premyslowo Handlowy (50.1%) US$150m
1995 Bank Gdanski US$67m
1995 Polish Development Bank US$17
1996 Bank Slaski (7.25%) US$196m
1996 Petrobank US$48m
1996 Wielkopolski Bank Kredytowy US$60m
1997 Bank Gdanski (32%) US$83.4
1997 Powszechny Bank Kredytowy (65%) US$300m
1997 Polish Investment Bank (100%) US$67m
1997 Bank Premyslowo Handlowy US$660m
1997 Export Development Bank (15.9%) US$94.5m
1997 Powszechny Bank Kredytowy (65%) US$264m
1998 Polish Development Bank (44.54%) US$52.8m
1998 Bank Pekao (15%) US$260m
1998 PKBL (99%) US$51.9m
1998 BPH (36%) US$600m
1999 Bank Pekao (52.09%) US$1.09bn
1999 Bank Zachodni (80%) US$580m
2000 Powszechny Bank Kredytowy (10.3%) US$76m
2000 Bank Pekao US$133m

Portugal

1989 Banco Totta & Acores US$195m
1990 Banco Totta & Acores (31%) US$153m
1990 Banco Portugues do Atlantico (33%) US$382m
1991 Sociedad Financeria Portuguesa (7.5%) US$109m
1991 Banco Espirito Santo e Comercial de Lisbon (40%) US$385m
1991 Banco Fonsecas & Burnay (80%) US$247m
1992 Banco Espirito Santo e Comercial de Lisbon (60%) US$590m
1992 Banco Portugues do Atlantico (17.6%) US$346m
1992 Banco Fonsecas & Burnay (20%) US$61m
1992 Credito Predial Portugues (100%) US$279m
1992 União de Bancos Portugues (61.2%) US$167m
1993 Banco Portugues do Atlantico (17.5%) US$221m
1994 Banco Pinto & Sotto Mayor (80%) US$255m
1994 Banco Portugues do Atlantico (7.5%) US$105m
1994 Banco Fomento Exteroir (80%) US$133m
1995 Banco Pinto & Sotto Mayor (20%) US$46m
1996 Banco Fomento Exteroir US$892m
1996 Banco Totta e Acores US$135m
1997 Banco Fomento Exteroir (3.5%) US$35m

Romania
1998 Banca Romana pentru Dezvoltare (41%) US$200m
1999 Romania Banc Post (42%) US$42m
2001 Banca Agriola (98%) US$52m

Russia
2002 Vneshtorgbank (20%) US$300m

Slovakia
2000 Slovenska Sporitelna (87%) US$347m
2001 Vseobecna Uverova (94.5%) US$473m
2002 Nova Ljubljanska Banka (34%) US$427m

Spain
1993 Argentaria (49.9%) US$2.24bn
1996 Argentaria (25%) US$1.2bn
1998 Argentaria (25%) US$2.3bn

Sweden
1995 Nordbanken (30%) US$893m
1997 Nordbanken (30%) US$907m

     Latin America

Argentina
1998 Banco de Santa Fe (90%)
1999 Banco Hipotecario (46%)

Brazil
1997 Banco Meridional
1998 Bemge
1998 Bandepe (99.97%) US$154m
1999 Baneb (94%) US$144m
2000 Banestado (88%) US$871m
2000 Banespa (76%) US$3.6bn

Colombia
1994 Banco Corpavi (34%) US$170m
1996 Banco Ganadero (40%) US$328m
1996 Banco Popular (80%) US$271m

Guyana
1997 National Bank of Industry (47.5%) US$20m

Jamaica
1986 NCB Group (100%) US$16m

Mexico
1991 Grupo Financiero Bancomer (56%) US$2.79bn
1991 Banco Nacional de Mexico (Banamex) (70%) US$4.43bn
1992 Grupo Financiero Bancomer US$837m
1993 Grupo Financiero Serfin US$420m
2002 BBVA Bancomer (11.6%) US$865m

Peru
1993 Banco Popular (100%) US$6m
1994 Interbanc (100%) US$51m
1995 Banco Continental (60%) US$256m
1998 Banco Continental (20%) US$68m

Venezuela
1993 Banco Popular US$23m
1994 Banco de Fomento de Coro US$4m
1996 Banco Consolidado US$124m
1996 Banco de Venezuela (90%) US$338m
1997 Banco Republica (56.7%) US$56.7m
1997 Banco Popular de los Andes (47.25%) US$47.4m
1998 La Confederacion del Canada Venezolana US$6.4m

     Middle East and Asia

China
2001 Bank of Shanghai (8%) US$620m
2002 Bank of China US$2.8bn
2002 Pudong Development Bank (5%) US$670m

Egypt
1993 Commercial International Bank (26.25%) US$115m
1996 Commercial International Bank US$119m
1996 Egyptian American Bank US$35m
1996 Misra International Bank US$34m
1997 Alexandria Commercial & Maritime Bank US$26.6m
1999 Cairo Barclays Bank (11%) US$4m

India
1993 State Bank of India (29.4%) US$713m
1995 Industrial Development Bank of India US$758m
1996 State Bank of India US$370m
1997 Bank of Baroda US$235m
1997 Bank of India US$186m
1997 Corporation Bank US$84m
1997 Dena Bank US$50m

Indonesia
1996 Bank Negara Indonesia (25%) US$400m
2002 Bank Central Asia (51%) US$539m

Japan
2000 Nippon Credit Bank (80%) US$932m

Kazakhstan
1998 Turanalem Bank (72%) US$100m

Kuwait
1996 Kuwait Real Estate Bank US$42m
1997 Burgan Bank US$428m
1997 Commercial Bank of Kuwait US$32.7m
1997 Gulf Bank US$56m
1997 Gulf Bank US$57m

Mongolia
2002 Trade & Development Bank (76%) US$12.23m

Pakistan
1997 Habib Credit & Exchange Bank (70%) US$39m
1997 Pakistan First Women Bank US$ 6.5m
1997 Schon Bank US$11.2m
2002 United Bank (51%) US$208m

Singapore
1993 Keppel Bank US$235m

South Korea
1994 Citizens National Bank (10%) US$264m
1999 Seoul Bank (70%) US$700m
2002 Woori Financial Group (12%) US$509m
2002 Seoul Bank US$965m
2003 Chohung Bank (80%) US$2.53bn

Sri Lanka
1997 National Development Bank of Sri Lanka US$75m

Taiwan
1996 Chiao-Tung Bank US$219m
1997 Chiao-Tung Bank US$982m
1997 Chang Hwa Commercial Bank US$381m
1998 Taiwan Business Bank US$554m
1998 First Commercial Bank US$1.37bn
1998 HuaNan Commercial Bank US$798m
1999 Farmers' Bank of China US$143m
1999 Chiao-Tung Bank US$363m
1999 Bank of Kaohsiung US$25m

Thailand
1999 Nakomthon Bank (75%) US$317m
1999 Radanasin Bank (75%) US$166m
2002 Bank Thai (36.2%) US$130m

Turkey
1993 Sekerbank (10%) US$4m
1995 Sumerbank (100%) US$103m
1997 Denizbank (100%) US$66m
1997 Anadolubank (100%) US$69m
1998 Etibank (100%) US$155m
1998 Turkiye is Bankasi (12.3%) US$651m

     Africa

Cote d’Ivoire
1999 SGBCI US$5.75m

Ghana
1996 Commercial Bank US$61m
1997 Social Security Bank US$16m

Kenya
1994 National Bank of Kenya (20%) US$10m
1996 Kenya Commercial Bank US$11m
1998 Kenya Commercial Bank (25%) US$29m

Morocco
1995 Banque Marocaine du Commerce Exterieur (50%) US$169m
1995 Credit-Eqdom (18%) US$9m
1996 Banque Marocaine du Commerce Exterieur US$50m
1997 Banque Marocaine du Commerce Exterieur US$144m

Mozambique
1996 Commercial Bank of Mozambique US$11m
1997 Banco Populaire de Desenvolvimento US$21m

Uganda
1997 Commercial Bank US$5m
1998 Uganda Barclays Bank (100%) US$3m

Zimbabwe
1997 Commercial Bank of Zimbabwe (80%) US$43m











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