October 4, 2016 / 9:46 AM / a year ago

Raiffeisen's Czech unit Zuno to end operations in 2017

PRAGUE, Oct 4 (Reuters) - Zuno Bank, the Czech online banking unit of Raiffeisen, plans to end its operations in the Czech Republic and Slovakia by the end of the first half of 2017 as part of consolidation efforts by its parent group, it said on Tuesday.

Zuno’s activities will be transferred to Raiffeisenbank in the Czech Republic and Tatra Banka in Slovakia, it said.

Raiffeisen had agreed to sell Zuno in 2015 to ABH Holdings SA, parent company of Russia’s Alfa Banking Group, but that deal fell through earlier this year. (Reporting by Jason Hovet; Editing by Mark Potter)

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