Raiffeisen Bank Announces Sale Of Priorbank JSC - Quick Facts

(RTTNews) - Raiffeisen Bank International has signed an agreement on the sale of its 87.74 percent stake in Priorbank JSC and its subsidiaries to Soven 1 Holding Limited. With the completion, RBI will have successfully exited the Belarusian market.

Raiffeisen Bank said, at closing, the transaction is expected to have an estimated negative impact of approximately 300 million euros on RBI Group's consolidated profit, resulting mainly from the difference between purchase price and book value of Priorbank JSC. At closing, the deal is expected to have a further estimated negative impact on RBI Group's consolidated profit of approximately 500 million euros.