NLB, Slovenia’s biggest lender, has raised its bid for Addiko to €29.00 per share, a 12% premium over Wednesday’s close. This move eclipses Raiffeisen’s earlier offer of €23.05, lifting the competition for the Croatian‑based bank’s foothold in the region.

The higher offer follows Raiffeisen’s plan to acquire Addiko to strengthen its Croatian presence and re-enter Slovenia. NLB, which tried to buy Addiko in 2024, now positions itself as the more attractive suitor, offering a 26% premium over Raiffeisen’s price.

Addiko’s shareholders face a clear choice: a higher cash payoff from NLB or a potentially more strategic alignment with Raiffeisen. Investors will watch the board’s decision closely, as the outcome could reshape banking influence across southeastern Europe.

The deal’s valuation, at €565.5 million, underscores the growing value of cross‑border bank acquisitions in Central and Eastern Europe, with NLB’s bid signalling a shift in competitive dynamics.