SAB Europe Holding Ltd. and SAB Finance a.s., both part of Czech Republic-based financial group SAB Group, acquired a 100% stake in Malta-based FCM Bank Ltd. on Nov. 30, 2017.

The acquisition has been approved by the Malta Financial Services Authority and the ECB, in line with EU regulations.

SAB Group, which specializes in corporate payment business and spot foreign exchange services, has more than 150 employees and services 15,000 corporate customers with an annual turnover of €7 billion.