Impexbank was founded in 1993; its business focus is primarily on retail customers who are served through its nationwide distribution network of approximately 190 branches and offices as well as 350 consumer finance outlets. As of 31 December 2005, the bank showed total assets amounting to € 1.6 billion (an increase of 55.8 per cent compared with year-end 2004), a profit before tax of € 26.1 million (exceeding the 2004 result by 54.4 per cent). The number of employees amounted to 5,116 at the end of 2005.
The purchase price is payable in two tranches. The first tranche amounts to USD 500 million. The second tranche of up to USD 50 million will be payable upon presentation of the audited financial results 2006. This results in a maximal purchase price of USD 550 million (plus a possible price adjustment resulting from the revaluation of a real-estate asset) for the full acquisition of Impexbank.
