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RBI: Agreement on sale of Polish leasing business to PKO Leasing S.A.

3.11.2016 9:09:00 | Autor/Izvor

Raiffeisen Bank International AG (RBI) has reached an agreement on the sale of its leasing company - Raiffeisen Leasing Polska S.A. - with PKO Leasing S.A. The purchase price equates to around EUR 200 million (PLN 850 million).

The closing should still follow in 2016. The expected positive effect on RBI’s consolidated result would be around EUR 30 million and would be booked at closing.

The transaction will have a positive effect of around 33 basis points on RBI’s CET1 ratio (fully loaded). The effect would amount to around 28 basis points for the combined bank (Raiffeisen Zentralbank Österreich AG and RBI).

With the closing of the transaction, RBI’s risk-weighted assets (RWA) are expected to be reduced by approximately EUR 1,290 million. At 30 June 2016, the tangible equity of Raiffeisen Leasing Polska amounted to EUR 150 million; equity incl. intangible assets totaled EUR 153 million.

"The signing of the agreement with PKO Leasing S.A. is another important milestone concerning our strategic realignment program. We are pleased to have concluded the sale with a top-notch buyer and at a price that reflects the outstanding quality of Raiffeisen-Leasing Polska," said RBI-CEO Karl Sevelda.

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