Erste Bank acquisition of Citi's Hungarian retail bank business

21/12/2015
Private acquisition

Completed

21/12/2015


Overview:

  • Erste Bank has acquired the Hungarian retail banking business of Citibank.
  • The acquisition was made jointly by Erste Bank Hungary and subsidiary Erste Befektetési.
  • The deal includes Citi's retail banking, consumer loans and card business.
  • Citi will remain in Hungary but focus on corporate banking.

Sam Duke - Editor

Jurisdiction:

Hungary

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

Hungary

Industry sector:

Banking


Firms:

Party: Citigroup (Seller)


Party: Erste Group Bank (Acquirer)

Lawyer: Anikó Kircsi