The management and supervisory boards of Raiffeisen Zentralbank Oesterreich (RZB) and Raiffeisen Bank International (RBI) have passed a resolution to merge the two banks.

The merger of the two banks is mainly aimed at increasing capital buffers of RZB.

Under the plan, parent RZB would be merged into RBI, in exchange for which RZB shareholders will receive shares in RBI the exact number of shares to change hands appear will not be revealed until December 2016.

The deal includes the “functions of RZB as the central institution of the Austrian Raiffeisen Banking Group as well as RZB’s equity participations, excluding the planned partial sale of the UNIQA shareholding”, RBI said.

The merged group will continue to be listed on the stock exchange, and will have a common equity tier 1 ratio (fully loaded) of 11.3% at 30 June 2016.

The merger plan will be put up for shareholder approval in January 2017.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.