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Raiffeisen to sell Zuno bank

AUSTRIAN Group Raiffeisen Bank International will sell its online bank Zuno which operates in Slovakia and the Czech Republic, the Czech daily Hospodářské Noviny reported. The reason is the development in the European bank market.

“With the arrival of new investor the sources of the bank will increase and according to the plan the expansion to new markets, which we have been preparing for four years, will be restored,” Zuno’s spokesman Lukáš Tomis said, as quoted by the SITA newswire.

According to the Czech daily, the companies interested in purchasing the bank can submit their bids by mid-February. The selected bidders will subsequently be allowed to conduct the deep inspection of the bank.

Since the Zuno bank got its licence in Austria, the local central bank will have to decide on the acquisition, as reported by SITA.

The bank has been in red numbers since the start of its operation. Its management has been affected by investments into infrastructure and planned expansion to new markets, especially to Hungary and Poland, which have yet to take place.

“Nothing will change for the bank’s clients,” Tomis said, as quoted by SITA.

Zuno currently has about 250,000 clients.

Source: SITA

Compiled by Radka Minarechová from press reports

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