Ineco Group Enters EU Banking Market with Slovenia's LON Bank Acquisition

Ineco Group has made a significant move in its international expansion strategy by acquiring a majority stake in Slovenia's Hranilnica LON, marking its entry into the European Union banking market.

The acquisition is expected to close after receiving regulatory approvals from the Bank of Slovenia and the European Central Bank. The transaction will allow Ineco Group to tap into a market of nearly 550 million people, offering new growth opportunities.

Ineco Group's CEO Davit Baloyan called this milestone 'historic' for Armenia and emphasized its significance in the group's development. He also highlighted the group's ambition to continue expanding globally and bringing its services to millions of customers.