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Slovakia's Poštova banka buys local nonbanking consumer lender

Slovakia-based Poštová banka a.s. acquired local nonbanking consumer loan provider Amico Finance, which ranks fourth by market share with 11% of the local installment sale segment.

Following the acquisition, Amico Finance will continue to serve clients of Slovak electronics retailer NAY, which was the company's majority shareholder prior to the sale, Poštova banka said Aug. 8. Financial details of the transaction were not disclosed.

The Slovak lender added that it plans to further develop the newly acquired unit, and hopes that the purchase will strengthen its position on the Slovak market.