“Raiffeisen Bank Romania and Schwabisch Hall reached an agreement on Raiffeisen Bank taking over latter’s stake in Raiffeisen Banca pentru Locuinte. The transaction was already approved by the Competition Council and expects the Central Bank’s Ok,“ Raiffeisen Bank’s representatives told ZF.
Raiffeisen Bank Romania will thus own a total 66.6% in RBL, while Austria’s Raiffeisen Bausparkasse will hold the rest of the shares.
Schwabisch Hall is the largest housing bank in Germany, with an over 80-year history on this niche market.
Raiffeisen Banca pentru Locuinte was set up in 2004 and is the first housing bank on the local market. End-2014, the bank had assets of RON500 million.
The bank granted total new loans of RON35 million in 2014, up 31% from a year before.
(English version by Manuela Panescu)