Raiffeisen Banka Closes Acquisition of Crédit Agricole Srbija

Raiffeisen banka a.d. Beograd announced on April 1 that it had, upon receiving necessary approvals from the National Bank of Serbia and relevant regulatory bodies, successfully closed the acquisition of 100% of the shares of Crédit Agricole Srbija (Crédit Agricole Srbija A.D. Novi Sad and CA Leasing Srbija d.o.o.) from Crédit Agricole S.A.

– With this acquisition, we are realizing our long-term strategic plans regarding our business expansion in Serbia. We are proud of the fact that our head office, Raiffeisen Bank International AG, recognized the potential in Serbia and supported us in the intention to position ourselves in the market even better – Zoran Petrović, CEO of Raiffeisen banka, stated on this occasion, the press release says.

It is reminded that the acquisition process started in August 2021 when the contract was signed, and the merger of Raiffeisen banka a.d. Beograd and Crédit Agricole Srbija A.D. Novi Sad is expected to be completed by the end of the second quarter of 2023.

Consequently, it is pointed out, Raiffeisen banka is expected to increase its market share to 12% and to rank third by total assets.

After the merger with Crédit Agricole bank, the loan portfolio of Raiffeisen banka is expected to reach almost EUR 3 billion and the client base to exceed one million.

– Crédit Agricole enhances the business of Raiffeisen Group in Serbia in the best manner, thanks to its complementary business model and the same values we share. Our clients will continue receiving the high-quality services that they are accustomed to in the following months, until the merger has been fully completed – stated Petar Jovanović, new CEO of Crédit Agricole and former Deputy Chairman of the Managing Board of Raiffeisen banka.

Raiffeisen banka a.d. Beograd

CA Leasing Srbija

RBA banka a.d. Novi Sad

Narodna banka Srbije Beograd

Raiffeisen banka Beograd

Credit Agricole Srbija

Credit Agricole

CA Leasing Srbija

NBS

Zoran Petrović

Petar Jovanović

acquisition

100 percent of the shares