Raiffeisen Bank International (RBI) now expects to retain Addiko Bank Montenegro and the group’s other regional subsidiaries after the Serbian regulator revoked ALTA Banka’s licence, undermining the planned transfer of the banks to Serbia’s ALTA Group.
The Austrian banking group no longer expects ALTA to secure the regulatory approvals required for the transaction following the decision by the National Bank of Serbia.
Under the original arrangement, RBI planned to acquire Vienna-based Addiko Bank AG and subsequently sell its non-EU subsidiaries in Montenegro, Serbia and Bosnia and Herzegovina to ALTA Group. Addiko’s operations in Croatia and Slovenia were to remain under RBI ownership.
The revised approach would leave RBI in control of all Addiko subsidiaries, subject to completion of the parent-company acquisition and the required regulatory, competition and other closing conditions. The change could expand RBI’s banking presence across the Western Balkans and alter the planned ownership structure of Addiko’s regional operations.
For Montenegro, the development makes a transfer of Addiko Bank Podgorica to Serbian ownership less likely, with the bank instead expected to remain within an Austrian banking group.
RBI has not announced specific changes to the Montenegrin bank’s operations, capital allocation, corporate lending strategy or regional business activities. The revocation of ALTA Banka’s licence does not affect Addiko Bank Montenegro’s existing operating licence. RBI’s expectation of retaining the subsidiaries also does not mean its acquisition of Addiko Bank AG has been completed.
