By Kim Richters

Raiffeisen Bank International AG said Saturday that it has agreed to take over Czech bank Equa bank from private equity firm AnaCap Financial Partners.

The Austrian banking group said the completion of the deal is expected around the end of the second quarter and that it plans to merge the bank with its Czech subsidiary.

The takeover should lead to an impact on Raiffeisen's CET1 ratio of around 30 basis points, it said.

The bank didn't disclose the financial terms of the deal.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

February 08, 2021 01:21 ET (06:21 GMT)

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