Hypo Alpe Adria Bank's Serbian branch said on Monday the claims about it withdrawing from the country were not true.

The information showed up in the media because of a misinterpretation of Chairman of the Executive Board of the Austrian Hypo Alpe Adria Bank Gottwald Kranebitter's statement about Hypo Group's future plans in the region of the former Yugoslavia.

Kranebitter did not tell Austria's Trend Magazine Hypo Group would leave the former Yugoslavia, because that is not true, the statement reads.

The truth is Hypo Group plans to find a new owner by 2014, so the Austrian government, as the current owner, could relinquish the position. Southeastern Europe is a very important part of Hypo Group's business, which is why there are absolutely no reasons to withdraw, the bank stated.

Hypo Alpe Adria Bank has already changed owners in Serbia, which did not affect negatively its business in the country. It plans to expand its network of offices in 2012 and open 8 new ones.

Hypo Alpe Adria operates in Austria, Serbia, Italy, Slovenia, Montenegro, Croatia, Bosnia-Herzegovina, Germany, Bulgaria, Macedonia and Hungary.