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Austrian bank RBI eyes acquisitions, sees Serbian market as 'attractive'

Raiffeisen Bank International AG CEO Johann Strobl said the Austrian bank is looking at acquisition opportunities as part of plans to expand in its main markets, Reuters reported March 13.

Serbia and its banking market are an attractive option for RBI, Strobl told a news conference in Vienna. When asked if RBI would be interested in acquiring Serbian lender Komercijalna banka a.d. Beograd, Strobl said it was too early to say anything until the owners put it up for sale and RBI has an idea of what the process will look like, according to the report.

The Serbian government plans to privatize Komercijalna banka and sell its entire 41.74% stake in the lender, as agreed with the International Monetary Fund. The sale process is expected to be completed by the end of September.

RBI has €2.5 billion in assets in Serbia, representing around 1.8% of the bank's total assets, the newswire noted.