Equa bank focuses mainly on consumer loans and has almost 480,000 customers. The acquisition is part of Raiffeisen Bank International’s (RBI) strategy to expand. At the end of last year, Equa Bank’s total assets amounted to EUR 2.8 billion (CZK 72 billion), and Raiffeisenbank reported assets of EUR 15.7 billion (CZK 405 billion).
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RBI announced the purchase of Equa bank in February. In February, RBI also agreed to buy Akcenta CZ, which is one of the largest non-bank foreign exchange traders in the Czech Republic. Raiffeisenbank, the Czech subsidiary of RBI, is one of the five largest domestic banks.
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Raiffeisenbank may also take over ING Bank’s domestic clients in accordance with an earlier decision of the Office. The Dutch bank has previously announced that it will terminate personal banking services in the Czech Republic by the end of 2021. From next year, it will provide services only to corporate clients.
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In the case of ING Bank, personal banking services consist of savings accounts and investments in mutual funds. The bank has previously informed its clients that it has negotiated above-standard terms with Raiffeisenbank if they decide to switch to it.
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Raiffeisenbank is currently addressing ING’s clients with an offer.
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