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RBI to shut Zuno Bank

will gradually wind down ZunoBank AG, a digital lender operating in Slovakia and the CzechRepublic.

Asof Oct. 21, Zuno will stop taking on new clients, while existing customers willbe gradually moved to Raiffeisenbank a.s. and , RBI's units in theCzech Republic and Slovakia. This process is set to be completed by the end ofthe first half of 2017, E15 reported Oct. 4.

Lastyear, RBI agreed tosell Zuno to ABH HoldingsSA, but in March the latter withdrew from the transaction for reasons not related tothe bank.

However,RBI is still in negotiations regarding the potential sale of Zuno's operatingplatform.