After receiving the necessary regulatory approval from the Financial Market Authority (FMA) Liechtenstein, VP Bank Ltd acquired all of the shares of Centrum Bank Ltd on 7 January 2015. This means that Centrum Bank Ltd is now a wholly owned subsidiary of VP Bank Ltd. The legal merger of VP Bank Ltd and Centrum Bank Ltd will be completed in the coming months. The first consolidated report will be published as of 30 June 2015.
The Marxer Foundation for Bank Values, previously the sole shareholder of Centrum Bank Ltd, will participate in VP Bank Ltd at a level equivalent to the purchase price of the shares. For this purpose, the Board of Directors of VP Bank Ltd will call an extraordinary general meeting of shareholders on 10 April 2015 and apply for a corresponding increase in capital.