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RBI unit eyes potential acquisitions in Croatia

Raiffeisen Bank International AG unit Raiffeisenbank Austria d.d. is seeking possible acquisitions in Croatia to boost its market share in the country.

Michael Georg Müller, CEO of RBA, told Reuters that the move is aimed at improving the Croatian lender's potential for reaching a targeted level of return on capital, as organic growth alone will not be sufficient in a market with limited growth potential.

RBA ranks as the fifth largest lender in Croatia, controlling roughly 8% of the market dominated by units of Italy's UniCredit SpA and Intesa Sanpaolo SpA, Austria's Erste Group Bank AG and Hungary's OTP Bank Nyrt., the newswire noted, citing central bank data.

Earlier in May, OTP Bank was reported to be interested in purchasing RBA if it fails to clinch a deal to acquire the Croatian unit of Austria's Addiko Bank AG. A Raiffeisen spokesman said at the time that RBI had no plans to sell the unit, Reuters noted.