Officials of TTK Bank of Skopje and the European Bank for Reconstruction and Development (EBRD) are going to sign a deal today according to which EBRD will become a minority shareholder of TTK Bank, which came into existence with the merger of Teteks kreditna banka and Tetovska banka.

The goal of EBRD's investment is accelerating the development and restructuring of this bank in the service of the needed consolidation of the numerous Macedonian financial institutions. The restructuring involves a plan for institutional strengthening with technical assistance from the Norwegian Ministry of Foreign Affairs.

According to Antero Baldaia, Director of Bank Equity of EBRD, this investment will help TTK Bank become more efficient and improve its financial situation to be able to assist more small and medium enterprises.