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UniCredit Bank Austria and Raiffeisen Bank International have sold their shares in card complete Service Bank AG, with EAVISTA Beteiligungsverwaltungs GmbH acquiring a 75.1% majority stake. EAVISTA, led by Arif Babayev, aims to enhance card complete's market position through technological innovations while maintaining its commitment to data protection and service quality. Customers of UniCredit and Raiffeisen will manage their credit cards directly with their banks, while other card portfolios will remain unchanged.
Austria's largest credit card company, Card Complete, has been sold to British investor Arif Babayev, who now holds 75.1% through his EAVISTA holding company. While the sale impacts customers of Bank Austria and Raiffeisen, those with cards from other partner banks will see no changes. A seamless transition to new credit cards from the respective banks is expected by the end of the year, with existing cards remaining valid until then.
Raiffeisen Bank International (RBI) and Bank Austria are transitioning customers from the card complete service to their own credit card offerings by the end of 2025, with seamless changes and new cards linked to Apple Pay and Google Pay. Customers will be informed about the switch in early 2025, as both banks have sold their stakes in the card complete company to EAVISTA. Following this, RBI shares fell 3.21% to 24.14 euros in Vienna.
EAVISTA Beteiligungsverwaltungs GmbH is acquiring a 75.1% stake in Card Complete by purchasing Raiffeisen Bank International's 25% share and UniCredit Bank Austria's 50.1%. This transition, led by entrepreneur Arif Babayev, aims to enhance Card Complete's market position in cashless payment solutions.Starting January 1, 2026, Raiffeisen Bank International and UniCredit will directly offer credit cards to their customers, ending their cooperation with Card Complete. Affected customers will receive personal notifications in early 2025 regarding the changes and new offerings.
Austrian investment company EAVISTA has acquired shares of UniCredit Bank Austria and Raiffeisen Bank International in card complete Service Bank AG, pending regulatory approval. UniCredit holds 50.1% and Raiffeisen 25%, while AVZ Privatstiftung retains 24.9%. The transaction will enable both banks to offer credit cards directly to their customers, while card complete's overall business strategy remains unchanged.
Arif Babayev
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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