KBC: acquisition of Raiffeisen's Bulgarian operations

(CercleFinance.com) - On Monday KBC announced the acquisition of the Bulgarian operations of the Austrian bank Raiffeisen for 1,015 million euros.


The Belgian bank - which claims to be the largest integrated financial group in Bulgaria - says the deal will strengthen its leadership in the asset management market, as well as the provision of leasing solutions.

The transaction is also expected to generate some cross-selling opportunities in the insurance business.

With a network of 122 bank branches nationwide, Raiffeisenbank Bulgaria is the sixth largest bank in the country with an 8.4% market share in lending.
The bank employs 2,500 people and has 635,000 customers.



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