Daily Management Review

Raiffeisen acquires Czech Equa bank


Raiffeisen Bank International (RBI) is buying 100% of Czech Equa bank from investment company AnaCap Financial Partners, the bank holding company said in a press release.

Michał Marszandt
Michał Marszandt
"RBI has signed an agreement to acquire 100% of Equa bank... from AnaCap Financial Partners (AnaCap)," the statement said.

It is noted that the acquisition is part of RBI's strategy to expand its presence in select target markets. It is expected that the deal will be completed at the end of the second quarter of 2021, after approval by the regulatory authorities. RBI did not specify the amount of the deal.

"The business models of Equa bank and Raiffeisenbank are very complementary, so the deal will ultimately lead to strategic synergies as well as enhanced digital capabilities," the press release notes. It also points out that as of the end of 2020, Equa banka's total assets exceeded €2.8 billion and Raiffeisenbank's total assets exceeded €15.7 billion.

Equa bank operates in the Czech Republic and specializes in consumer lending. It serves about 480 thousand customers.

Austrian bank holding Raiffeisen International operates in a number of countries in Central and Eastern Europe, the staff has about 47 thousand people.

source: bloomberg.com