Soven 1 Holding Limited has successfully acquired a majority stake in Priorbank Open Joint Stock Company from Raiffeisen Bank International AG.
The agreement for this acquisition was signed recently, and the transaction has now been completed following the receipt of all necessary regulatory approvals.
Under the new ownership, Priorbank JSC will operate independently, marking a significant change in the banking industry.
This transaction signifies Raiffeisen Bank International's complete withdrawal from the Belarusian market.
The deal is expected to close in the fourth quarter of this year, further strengthening Soven 1 Holding Limited's position in the financial sector.