GlobeNewswire by notified

KBC Group: KBC completes acquisition of Raiffeisen Bank International's Bulgarian operations


Press Release

Outside trading hours – Regulated information*

Brussels, Sofia, 7 July 2022 (5.45 p.m. CEST)

KBC completes acquisition of Raiffeisen Bank International's Bulgarian operations

Today, KBC Bank and Raiffeisen Bank International (‘RBI’) completed the deal announced on 15 November 2021 concerning the acquisition of 100% of the shares of Raiffeisenbank (Bulgaria) EAD, which is responsible for the banking operations of RBI in Bulgaria.

The transaction also includes Raiffeisenbank Bulgaria’s fully owned subsidiaries Raiffeisen Leasing Bulgaria, Raiffeisen Asset Management (Bulgaria), Raiffeisen Insurance Broker and Raiffeisen Service.

The acquisition, worth a total of 1 009 million euros paid in cash, reflects the quality of the Raiffeisen franchise in Bulgaria and the potential for synergy. The transaction will have a capital impact of around -1 pp on KBC Group’s CET1 in 3Q2022.

Raiffeisenbank (Bulgaria) has systematically developed its banking activities since entering the market in 1994. It is one of Bulgaria’s leading universal banks, offering a full range of banking, asset management, leasing and insurance services to individuals, SMEs and business customers.

The bank ranks sixth with a local market share of 7.9% in assets and 8.4% in loans. Raiffeisenbank (Bulgaria) has a network of 122 bank branches across the country which are complemented by a network of mobile banking advisors, external partners and credit intermediaries. Raiffeisenbank (Bulgaria) has 2 500 employees and serves 635 000 customers.

The transaction* also includes:

  • Raiffeisen Leasing Bulgaria, the fourth largest leasing company in Bulgaria (10.5% market share)
  • Raiffeisen Asset Management (Bulgaria), the third largest asset management company in Bulgaria (9.7% market share and 106 million euros of assets under management)
  • Raiffeisen Insurance Broker, which serves the leasing and business customers of Raiffeisenbank (Bulgaria) and distributes products from 12 insurance companies (1% market share)
  • Raiffeisen Service

Raiffeisenbank (Bulgaria)'s risk appetite/risk profile and compliance governance are similar to those of KBC Group.

The strong credit rating of UBB, which is the highest credit rating among banks in Bulgaria and 2 notches higher than that of Bulgaria as a country, indicated by Fitch rating agency, confirms that UBB is consistently a reference on the Bulgarian market in terms of financial strength and stability. Raiffeisenbank (Bulgaria) and UBB will merge their operations, allowing KBC to further strengthen its position in the Bulgarian banking market. The pro forma combined entity (UBB and Raiffeisenbank (Bulgaria)) would achieve a 19.3% market share in terms of assets (compared to 11.4% for UBB today), making it the biggest bank in Bulgaria.

Johan Thijs, CEO of KBC Group, is pleased with the completion of this acquisition: ‘Over the past 15 years, KBC Group has established itself as the biggest investor in Bulgaria, taking the leading position as part of the consolidation of Bulgaria’s financial sector. The Belgian KBC Group’s Bulgarian business is a successful example of building a sustainable bank-insurance model in accordance with KBC’s strategy for its core markets. By acquiring Raiffeisenbank (Bulgaria) and its subsidiaries, we will now ensure high-quality financial intermediation for over 2.5 million Bulgarian customers. We would like to offer a warm welcome to our new customers and colleagues joining our big family!’

Peter Andronov, CEO International Markets of KBC Group, added: ‘This acquisition once again serves to underline our commitment to the Bulgarian market and our support for the Bulgarian economy. The clear focus on innovation and digitalisation combined with high customer satisfaction will allow us to further expand our Bulgarian operations and consolidate our leadership position on the Bulgarian financial market together with the staff and management team.’

Peter Roebben, Country CEO for KBC Group in Bulgaria, concluded: The acquisition of Raiffeisenbank (Bulgaria) further strengthens KBC Group’s leading position as the top integrated financial group in the country. We are fully prepared to quickly and decisively proceed with the merger of Raiffeisenbank (Bulgaria) and UBB. In particular, we will ensure that we pay proper attention to the needs of our customers and staff throughout this process. This is an exciting moment: a new banking leader is emerging in Bulgaria, and we are committed to making a positive impact for all stakeholders.’

For more information, please contact:

Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC Group

Tel + 32 2 429 85 45 -

Investor Relations, KBC Group

* This news item contains information that is subject to transparency regulations for listed companies.

KBC Group NV

Havenlaan 2 – 1080 Brussels

Viviane Huybrecht

General Manager

Corporate Communication /Spokesperson

Tel. + 32 2 429 85 45

Press Office

Tel. + 32 2 429 65 01 Stef Leunens

Tel. + 32 2 429 29 15 Ilse De Muyer

Tel. + 32 2 429 32 88 Pieter Kussé

Tel. + 32 2 429 85 44 Sofie Spiessens

KBC press releases are available at or can be obtained by sending an e-mail to

Follow us on
Stay up-to-date on all innovative solutions

* Market data upon announcement on 15 November 2021


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Sampo plc’s share buybacks 17/08/202218.8.2022 07:30:00 CEST | Press release

SAMPO PLC STOCK EXCHANGE RELEASE 18/08/2022 at 08:30 am Sampo plc’s share buybacks 17/08/2022 On 17/08/2022 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)13,87445.07AQEU31,19645.07CEUX8,94345.16TQEX75,98745.08XHELTOTAL130,00045.08 *rounded to two decimals On 9 June 2022, Sampo announced a share buyback programme of up to a maximum of EUR 1 billion in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 10 June 2022, is based on the authorization granted by Sampo's Annual General Meeting on 18 May 2022. After the disclosed transactions, the company owns in total 6,579,785 Sampo A shares representing 1.23 per cent of the total number of shares in Sampo plc. Details of ea

ObsEva Files Second Quarter 2022 Financial Statements17.8.2022 22:01:00 CEST | Press release

Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange Geneva, Switzerland and Boston, MA – August 17, 2022 – ObsEva SA (NASDAQ: OBSV / SIX: OBSN), a biopharmaceutical company developing and commercializing novel therapies to improve women’s reproductive health, today published its Second Quarter 2022 Financial Statements. The Second Quarter 2022 Financial Statements may be found on the financial section of the Company’s website, here or directly via the link here. About ObsEva ObsEva is a biopharmaceutical company developing novel therapies to improve women’s reproductive health and pregnancy. Through strategic in-licensing and disciplined drug development, ObsEva has established a clinical pipeline with development programs focused on new therapies for the treatment of preterm labor and improving clinical pregnancy and live birth rates in women undergoing in vitro fertilization. ObsEva is listed on the Nasdaq Global Select Market and is traded under the ticker symbol “O

GOGL - Invitation to presentation of Q2 2022 Results17.8.2022 19:30:59 CEST | Press release

Golden Ocean Group Limited (the “Company) will publish its financial results for the second quarter of 2022 on Thursday August 25, 2022. In connection with the release, a conference call and webcast will be held as described below: Conference call and webcast A conference call will be held at 4:00 P.M. CET (10:00 A.M. New York Time) on Thursday August 25, 2022. The presentation will be available for download from the Investor Relations section at (under "Presentations") prior to the conference call/webcast. In order to listen to the presentation you may do one of the following: a. Webcast Visit the Investor Relations section of the Company’s website at and click on the link to “Financial Calendar and Webcast”, or access directly via the webcast link below. GOGL Q2 2022 Webcast b. Conference Call Participants will need to register online prior to the conference call via the link below. Dial-in details will be available when registered. GOGL Q2 2022

Changes in Nokia Corporation's own shares17.8.2022 18:30:00 CEST | Press release

Nokia Corporation Stock Exchange Release 17 August 2022 at 19:30 EEST Changes in Nokia Corporation's own shares Espoo, Finland – A total of 189 403 Nokia shares (NOKIA) held by the company were today transferred without consideration to participants of Nokia's equity-based incentive plan in accordance with the rules of the plan. The transfer is based on the resolution of the Board of Directors to issue shares held by the company to settle its commitments to participants of the plan as announced on 3 February 2022. The number of own shares held by Nokia Corporation following the transfer is 79 311 737. About Nokia At Nokia, we create technology that helps the world act together. As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. Adhering to the highest standards of integrity and security, w

Spryker Recognized as a Visionary in 2022 Magic Quadrant™ For Digital Commerce17.8.2022 18:00:00 CEST | Press release

BERLIN and NEW YORK, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Spryker, a leading digital commerce platform for Sophisticated Commerce use cases in B2B, Enterprise Marketplaces, IoT and Unified Commerce, has been recognized by Gartner® as a Visionary in the 2022 Magic Quadrant™ for Digital Commerce. It is Spryker's third consecutive inclusion in the Gartner® Magic Quadrant™ for Digital Commerce. “At Spryker, our goal is to enable digital innovation and differentiation with our composable platform designed specifically for sophisticated transactional business models. We believe being recognized for the second time as a Visionary validates our continued dedication to empowering companies to grow, innovate, and differentiate,” said Boris Lokschin, Co-Founder and CEO at Spryker. “This year we launched our App Composition Platform as the latest stage in our commitment to delivering true composability. This first of its kind platform is why we feel Spryker continues to be recognized in the market. W