Raiffeisen Bank in Serbia BUYS Crédit Agricole

Raiffeisen Bank in Serbia bought 100% of the shares of Crédit Agricole Bank, including the leasing company owned by it – CA Leasing Serbia.

The approval of the regulator is necessary for the successful completion of this transaction, it is stated in the announcement of Raiffeisen Bank International (RBI) AG.

If this transaction is successfully completed, the plan is for Crédit Agricole Bank based in Novi Sad to merge with Raiffeisen Bank, headquartered in Belgrade, and CA Leasing to merge with Raiffeisen Leasing.

„We are convinced that Crédit Agricole Bank and leasing would complement our business in Serbia in the best possible way, since we nurture the same values and business culture. I firmly believe that, empowered in this way, we would be able to provide even more clients with innovative products and further improve the user experience,“ said Zoran Petrovic, Chairman of the Executive Board of Raiffeisen Bank in Serbia.

Chairman of the Executive Board of RBI, Johann Strobl, has pointed out that Serbia is a very interesting market for that bank and it offers great growth potential.

„Crédit Agricole Serbia is strategically perfect for our bank and the leasing company in Serbia, and this acquisition would support the additional possibility of growth on this market,“ he said.

Crédit Agricole Bank in Serbia has about 356,000 clients and a market share of 20 percent in financing agribusiness.

In the second quarter of 2021, that bank had total assets of 1.3 billion euros, while the total assets of Raiffeisen Bank amounted to 3.4 billion euros.

Izvor: Beta

Foto: BIZLife