Raiffeisen Bank signs deal to acquire Credit Agricole Serbia

Banking

Vienna-based Raiffeisen Bank International said its Serbian unit Raiffeisen Banka has signed an agreement to acquire the entire capital of the Serbian subsidiary of Credit Agricole, according to a report by Serbia-business.eu.

The transaction is expected to be closed in the first quarter of 2022, the bank said in a statement without revealing further financial details. Regulatory approvals are required to successfully complete this transaction.

At the end of the second quarter of 2021, Credit Agricole Serbia had total assets of EUR 1.3 billion, while Raiffeisen banka reported total assets of EUR 3.4 billion.

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