The sale of Raiffeisenbank (Bulgaria) EAD to KBC Bank, agreed upon in November 2021, was successfully closed today, said the bank in a statement.

The sale has a positive impact of c. 75 basis points on RBI’s Group CET1 ratio, based on the agreed selling price of EUR 1,009 million, closing equity of EUR 588 million, and the deconsolidation of EUR 3.1 billion RWA.

As all conditions for the completion of the transaction, including all necessary regulatory approvals, were met in June 2022, the deconsolidation of Raiffeisenbank (Bulgaria) EAD is effective 30 June 2022. Accordingly, the transaction will be reflected in RBI’s second quarter financial results. Subject to ECB approval, the CET1 impact will also be recognized in RBI’s Q2 capital ratios.

The additional capital resulting from the sale further strengthens RBI’s solid capital position and will be reallocated to support growth in RBI’s key markets.