Raiffeisen International Bank-Holding AG will acquire 100 per cent ofCzech eBanka, a.s. subject to a successful closing and the approval ofthe transaction by the Czech National Bank and other relevantauthorities in the Czech Republic and in Austria. An agreement betweenboth parties was signed in Prague this evening. eBanka, which had a netasset book value ofˆ 42 million at the end of the first quarter 2006, will be purchased for ˆ 130 million.
With this acquisition, Raiffeisen International, a member of RZB Group,will boost its retail customer base by over 70 per cent to almost300,000 clients in the Czech Republic. eBanka serviced approximately117,000 customers at the end of the first quarter 2006. The customerbase consists of private individuals and small and medium sizedcompanies.
“eBanka is a perfect strategic fit with our Raiffeisenbank”, says Herbert Stepic, CEO of Raiffeisen International. “With eBanka’s customer base and 37 additional branches, our retail banking will gain significant momentum in the Czech Republic”, Stepic added.
eBanka is a pure retail bank and started operations in 1998. Its sharesare held by Ceska pojistovna, the largest Czech insurance company. Ceskapojistovna is a member of the PPF Group, which is a major financialgroup in the Czech Republic. eBanka’s total assets amounted to ˆ 611 million and the bank employed a staff of approximately 900 at the end of March 2006. At the same time the assets of Raiffeisenbank a.s. amounted to ˆ 2.7 billion, the bank had 50 branches and employed 1,149 people. Raiffeisenbank has been operating as a universal bank since 1993.
The combined market share in terms of total assets (at the end of 2005)will be 3.2 per cent. Together both banks will rank sixth in the Czechmarket.
Raiffeisen International operates one of the leading banking networks inCEE with subsidiary banks and leasing companies in 16 markets. More than10 million customers are attended through 2,700 business outlets. Ineight markets, the respective Network Bank ranks among the three largestlocal banks. Representative offices in Lithuania and Moldova complementthe Group''s presence in the region. Raiffeisen International is a fullyconsolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB),which owns 70 per cent of the common stock. The remaining 30 per cent isfree float, the shares are traded on the Vienna Stock Exchange. RZB is aleading corporate and investment bank in Austria and the centralinstitution of the Austrian Raiffeisen Banking Group, the country''slargest banking group.
Raiffeisen International''s balance-sheet total amounted toˆ 41.9 billion at the end of the first quarter 2006. Consolidated profit (after minorities) increased by 34 per cent to ˆ 124 million, compared with the first quarter 2005.
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