Equa bank

History

2021: Raiffeisen purchased the Czech Equa bank

At the beginning of February, 2021 Raiffeisenbank International (RBI) acquired the Czech bank Equa at AnaCap Financial Partners company. In case of approval of the transaction by regulatory bodies of Equa bank which worked at the Czech market within 10 years will stop the existence and in full strength will join the Czech division of RBI. It is known that Equa bank services nearly 480,000 clients.

It is expected that acquisition of Equa bank will have an impact on capital adequacy ratio of the first RBI level approximately of 30 basis points (proceeding from CET1 indicator based on pro-forma of the consolidated statements for 2020). Exact assessment will be defined after closing of the transaction.

Raiffeisen purchased the Czech Equa bank

Raiffeisenbank is in very good financial shape. Acquisition of the Czech bank Equa completely corresponds to our business strategy, - the CEO and the chairman of the board of Raiffeisenbank Igor Vida explained in the press release. - Eventually, the Czech Republic - one of the main markets of RBI where we intend to stimulate economic growth.

According to the press release of RBI, a business model of Equa banks and Raiffeisenbank supplement each other, and as a result of the transaction the synergy effect, including in the field of digital services will be reached. Though in terms of the volume of assets of Equa bank considerably concedes to Raiffeisenbank, the high level of customer satisfaction of Equa bank and impressive growth of crediting do it by attractive acquisition. For the end of 2020 assets of Equa bank were more than 2.8 billion euros while assets Raiffeisenbank the Czech Republic — 15.7 billion euros.

Closing of the transaction is planned for the second quarter 2021, and operational integration should be complete to the middle of 2022.^[1]

Notes