Raiffeisen to Sell Bulgaria Business to KBC as It Focuses on Key Markets
15 Novembre 2021 - 8:32AM
Dow Jones News
By Joshua Kirby
Raiffeisen Bank International AG said Monday that it has agreed
to divest its Bulgarian business to Belgium's KBC Group NV for just
over 1 billion euros ($1.14 billion).
The sale of the subsidiary to KBC Bank for EUR1.015 billion will
add around 90 basis points to Raiffeisen's CET1 ratio and will
allow it to allocate extra capital to spur growth in key markets,
the Austrian lender said.
The transaction should close by mid-2022, Raiffeisen said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
November 15, 2021 02:17 ET (07:17 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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