Raiffeisen Bank International (RBI) has reached an agreement to acquire Czech-based FX and payments provider Akcenta.
Under the proposed ownership structure, RBI will acquire 70 per cent of Akcenta and the remaining 30 per cent will be acquired by RBI’s Czech subsidiary Raiffeisenbank a.s.
The transaction is subject to regulatory approval and is expected to close by end of May.
The acquisition supports RBI’s strategy to become a leader in FX business in Central and Eastern Europe (CEE).
Akcenta offers foreign exchange as well as payment and hedging services to small and medium-sized businesses in the Czech Republic, Slovakia, Hungary, Poland, Romania and Germany, where it services around 43,000 clients overall, more than 20,000 thereof in the Czech Republic.
The company had total assets of around € 93 million at year-end 2020 and executed an overall customer transaction volume of just under € 7 billion during that year.