The bank stated originally on Aug. 6, 2022 that its Serbian subsidiary, Raiffeisen banka a.d. Beograd, signed an agreement to acquire 100 per cent of the shares of Crédit Agricole Srbija A.D. Novi Sad (a subsidiary of French Crédit Agricole S.A.) along with its fully owned leasing subsidiary CA Leasing Srbija d.o.o.
The bank noted that the “successful closing of the transaction is subject to inter alia obtaining regulatory approvals.”
Zoran Petrovic, chairman of the management board of Raiffeisen banka Serbia stated at that time that he was “convinced that Crédit Agricole bank and leasing would complement our operations in Serbia, as we share the same values and corporate culture. I strongly believe that strengthened in this way we could provide innovative products and further enhance our customer experience for even more clients.”
The press release added that Crédit Agricole Srbija serves approximately356,000 customers. The bank has a leading position in agricultural-business financing (over 20% market share) and thus complements the business profile of Raiffeisen banka a.d. very well. As of Q2 2021 Crédit Agricole Srbija had total assets of EUR 1.3 billion, while Raiffeisen banka a.d. reported total assets of EUR 3.4 bln.
Photo by Marek Slusarczyk, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0>, via Wikimedia Commons.