Soven 1 Holding Limited has successfully acquired a majority stake in Priorbank Open Joint Stock Company from Raiffeisen Bank International AG.

This acquisition strengthens Soven 1's position in the banking sector, particularly in Eastern Europe.

Raiffeisen Bank International AG is a well-known banking group that operates in retail, corporate, and market banking.

As of the end of 2023, the group reported managing significant amounts of current deposits and loans.

It has a wide network of branches across Europe, offering various financial services.

The bank's net interest income is geographically diversified, with a significant portion generated from Eastern Europe, Central Europe, Southeastern Europe, and other regions.

This acquisition is a significant development in the banking industry, reflecting the ongoing trend of consolidation.