Arca Capital enters the banking sector

Czech and Slovak financial group acquires a majority share in Austrian private bank Wiener Privatbank.

Bank, illustrative stock photoBank, illustrative stock photo(Source: Sme - Jozef Jakubčo )

The last group that arose from the post-communist central- and eastern-European area that does not own a bank, Czecho-Slovak Arca Capital, is eyeing the Vienna-based private-banking institution, Wiener Privatbank. A preliminary purchase contract has already been signed and the required advance payment has been paid, the Hospodárske noviny daily wrote on September 11.

It plans to expand the bank’s sphere of operations into Slovakia and the Czech Republic, the SITA newswire wrote eight days later.

“The current managerial team will engage in further development with the bank, in close cooperation with the Arca Capital teams in Bratislava and Prague,” Rastislav Velič, partner and Board chairman of Arca Capital, told SITA.” We will use all logical and practical opportunities to expand so that the bank’s services reach clients in this region as early and as effectively as possible.”

Arca Capital has thus completed the negotiations that lasted for several months, with the current shareholders and leaders of Wiener Privatbank. The Agreement does not include real-estate projects which will be excluded from the bank portfolio. The transaction is yet to be approved by the Austrian Financial Market Supervision Authority (FMA).

“With the acquisition of Wiener Privatbank, we have fulfilled our ambition to enter the banking sector and to provide our clients with suitable, complete financial services,” Rastislav Velič added.

Wiener Privatbank is a private bank focusing on banking services, consultancy and the administration of assets, residing in Vienna. Arca Capital is a private integrated investment group active in central Europe, focusing on the development of its private equity assets directed towards energy, real-estate, retail and services. The finalisation of the transaction, i.e. the takeover of the majority share in Wiener Privatbank by the Arca Capital group, is estimated to take place in mid-2018.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Some good reasons to take a bike ride to Devín in autumn

A scrumptious taste of local viticulture is only one of them.

Devín Castle

Slovakia's best photo of 2019: Kočner hiding in a police car

Take a look at the best photos from the 2019 Slovak Press Photo contest.

The picture of controversial businessman Marián Kočner, taken by Denník N photographer Tomáš Benedikovič, wins the singles category in the News section of the 2019 Slovak Press Photo contest

Aeromodelling World Champion: State aid can’t even cover basic expenses

Ján Littva must fend for himself despite having won the second most titles in the history of his sport.

Ján Littva wants to organise a world championship in aeromodelling at his private airport.

Constitutional Court finally gets all its judges

Court working at half-speed for eight months.

Left to right: Ladislav Duditš, Libor Duľa, Rastislav Kaššák, Miloš Maďar, Peter Straka and Martin Vernarský