Hrvatska postanska banka d.d. (ZGSE:HPB) signed a letter of intent to acquire Jadranska banka d.d. from State Agency for Deposit Insurance and Bank Resolution on May 4, 2018. Hrvatska postanska banka d.d. (ZGSE:HPB) signed an agreement to acquire Jadranska banka d.d. on July 4, 2018. The takeover is subject to approval from Hrvatska Postanska Banka's main parliament, market regulator and the bank's management board. As of June 28, 2018, shareholders of Hrvatska postanska banka d.d. approved the deal. As of March 6, 2019, the transaction is approved by Croatian National Bank. The transaction also gets approved by HNB Council. The transaction is expected to complete by April 1, 2019, in accordance with an agreement signed in between Hrvatska postanska banka and Jadranska banka on February 12, 2019. The transaction is expected to produce positive effects through market efficiency, cost cutting and an increase in the number of clients and distribution channels.