Following a successful
10-year mission to support expansion and improve corporate governance, the EBRD
recently exited its engagement with Slovenia’s Prva Group through the sale of
its 20 percent stake.
“We are proud that we
have been able to contribute to Prva’s success in the past 10 years as an
active shareholder,” said EBRD Director for Insurance and Financial Services
Noel Edison. “In this period Prva has grown locally and internationally and
today offers clients in four countries competitive pension asset management
services. We are confident that Prva will continue its successful development
with a stable shareholder base, competent management and strong corporate
governance standards.”
The EBRD contributed to establishing a
corporate governance standard in line with international best practice at Prva
Group, which has boasted continuous growth in brand recognition and financial
results over the past 10 years. The group manages EUR 735 million in pension
assets with nearly 400,000 policy holders and EUR 76 million in premiums each
year. Its 2016 profits were EUR 3.29 million.
In supporting Prva Group, the EBRD also
supported its priority of developing capital markets in the region. The bank
has been active in Slovenia since 1991 and has invested EUR 950 million through
75 projects in the intervening time.
