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Zuno Bank shuts ops in Czech Republic, Slovakia

Raiffeisen Bank International AG unit Zuno Bank AG, a digital lender in the Czech Republic and Slovakia, completed the wind down of its operations in the two countries June 3.

The lender moved all its clients to RBI units Tatra banka a.s. in Slovakia and Raiffeisenbank a.s. in the Czech Republic.

RBI decided to shut Zuno's Czech and Slovak business in October 2016, after a deal to sell the unit to ABH Holdings SA fell through for reasons reportedly not related to the bank.