Raiffeisen banka a.d. Beograd signs agreement on the acquisition of Crédit Agricole Srbija A.D. Novi Sad
Raiffeisen Bank International AG (RBI) announces that its Serbian subsidiary, Raiffeisen banka a.d. Beograd, has signed an agreement to acquire 100 per cent of the shares of Crédit Agricole Srbija A.D. Novi Sad (a subsidiary of French Crédit Agricole S.A.) along with its fully owned leasing subsidiary CA Leasing Srbija d.o.o. Successful closing of the transaction is subject to inter alia obtaining regulatory approvals.
“We are convinced that Crédit Agricole bank and leasing would complement our operations in Serbia, as we share the same values and corporate culture. I strongly believe that strengthened in this way we could provide innovative products and further enhance our customer experience for even more clients”, stated on this occasion Zoran Petrovic, Chairman of the Managing Board of Raiffeisen banka Serbia.
“Serbia is a very interesting market for us and offers attractive growth potential. Crédit Agricole Srbija would be an excellent strategic fit to our bank and our leasing operation in Serbia and the acquisition would support our growth ambition in the market”, said Johann Strobl, CEO of RBI.
Crédit Agricole Srbija serves around 356,000 customers. The bank has a leading position in agricultural-business financing (over 20% market share) and thus complements the business profile of Raiffeisen banka a.d. very well. As of Q2 2021 Crédit Agricole Srbija had total assets of EUR 1.3 billion, while Raiffeisen banka a.d. reported total assets of EUR 3.4 billion.
On the basis that deal completion is successful, there is a plan to merge Crédit Agricole Srbija A.D. Novi Sad with Raiffeisen banka a.d. Beograd and CA Leasing Srbija d.o.o. with Raiffeisen Leasing d.o.o. Beograd.