ABH Holdings S.A. announces the successful signing of the agreement about the purchase of online bank ZUNO operating in the markets of the Czech Republic and Slovakia. ZUNO remains a stand-alone fully-regulated bank with headquarters in Vienna.

ABH Holdings S.A. is a privately owned Luxembourg-based investment holding company investing into several banking groups in the CIS and Europe with a majority stake from АО «Alfa-Bank».

ZUNO Bank operates in several European markets rendering online banking services, and represents effective and modern model of direct banking. ZUNO has a centralized, low cost operational model achieved by product standardization and a unified IT architecture across countries. ZUNO’s assets are a strong brand and its platform which allows it to operate across multiple countries.

The sales process is approaching its end and the complete takeover of ZUNO is estimated for the first part of the year of 2016. The change of ownership is subject to approval by the Austrian regulator. Until this process is not finished, ZUNO is still under internal rules and governance of Raiffeisen Bank International (RBI).

«Alfa-Group has made a strategic decision of its presence in the Czech and Slovakian markets. We are pleased that we will have a sister company in Austria. It will enlarge the presence of Alfa Banking Group on European markets and increase our technological potential. We are intended to make use of its valuable experience and best practices in the implementation of our ambitious plans to build up direct banking in Russia», – commented on the deal Alexey Marey, CEO at Alfa-Bank.

«I am very happy that we have managed to find a new and strong owner for ZUNO. The ownership change will enable us to further strengthen and grow the business in Slovakia and the Czech Republic – two markets that we remain fully committed to. In addition, the change will open up opportunities for us to evaluate expansion into new products and markets», – said Oyvind Oanes, Chief Executive Officer in ZUNO Bank.

ABH Holdings S.A. is a privately owned Luxembourg-based investment holding company investing into several banking groups in the CIS and Europe with a majority stake from АО «Alfa-Bank».
ABHH’s subsidiaries offer a wide range of products and operate in all sectors of the financial market, including interbank, corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, custody services, investment banking, and trade finance, as well as other ancillary services to corporate and retail customers.
As of the end of 2014, ABHH’s subsidiaries had almost 42,000 full-time employees,served over 210,400 corporate clients and 16.7 mln retail customers, while the branch network expanded to 966 offices.

ZUNO Bank’s holds a banking license granted by The Austrian Financial Market Authority and has been operating as a subsidiary of RBI. ZUNO is present in the markets of the Czech |Republic and Slovakia with a customer portfolio of more than 250.000 customers, 720 mln EUR in deposits, 55 mln EUR in loan volume and around 190 employees.

ZUNO Bank is the only bank in Czech and Slovak Republics, it has no physical branches, and is available 24 hours a day, 7 days a week via PC, tablets or smart phones with operating systems iOS, Android or Windows Phone. ZUNO is a medium-sized bank offering a broad product portfolio (current account with a debit card, savings account, online loan, refinancing, credit card or overdraft).