According to today’s RBI announcement, another company will be acquired: this time the Czech Akcenta has been selected, which according to its website is the largest transfer institution in the Central European region. RBI will buy 70% of the Czech company and the remaining 30% will go to its Czech subsidiary, Raiffeisenbank. According to the announcement, supervisory approval is still required to close the deal, but it could be by the end of May.
The Austrian group also points out that the acquisition fits in with Raiffeisen’s goal of becoming the largest player in the foreign exchange market in the Central and Eastern European region. Although about 75% of foreign exchange market transactions are serviced by banks, the remaining 25% are covered by non-bank players such as Akcenta.
Akcenta provides foreign exchange market, payment and hedging services to small and medium-sized enterprises in the Czech Republic, Slovakia, Hungary, Poland, Romania and Germany. It serves a total of 43 thousand customers, of which more than 20 thousand in the Czech Republic. The company had assets of € 93 million at the end of last year, making a total of roughly € 7 billion in transactions to its customers in 2020.
The RBI announcement also reveals that Accent will not be integrated into the group, thus ensuring synergies and growth opportunities for the Czech payment service provider.
The RBI announced its second acquisition within days, not long ago with the acquisition of the Czech Equa Bank:
Cover image: Lisi Niesner / Bloomberg via Getty Images
Source: Portfolio.hu – Bank by www.portfolio.hu.
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