Addiko Group was established when the former Hypo-Alpe-Adria International AG spun off its CSEE banking subsidiaries. Austria-based Hypo-Alpe-Adria had established business units in the region after 1996 by offering leasing businesses. The bank later added more banking activities including consumer, corporate and public finance. The company experienced the most significant growth from 2002 onwards, with a focus on risky and large-scale financings especially in real estate and tourism projects, until the
2008 financial crisis and its nationalization the same year. In 2015, AI Lake, indirectly owned by funds advised by Advent International, a global private equity investor, and the European Bank for Reconstruction and Development (EBRD), acquired Addiko Bank AG following a sales process required by the European Commission. Addiko Bank has been operating under its current name since July 2016, reflecting the rebranding of Addiko Group. ==See also==