As on March 1, Expobank CZ has completed the acquisition of East Portfolio, whose 100% share it obtained from Germany’s LBBW. East Portfolio assets consist primarily of loans in the amount of CZK 2.6bn. Bank spokeswoman Alena Nováková told ČIANEWS that the majority of these assets had already been or would gradually be transferred to Expobank CZ and added that East Portfolio would continue functioning as an independent legal entity. According to the spokeswoman, the transaction will not have a significant influence on the bank’s capital adequacy and liquidity, with both of the indicators to remain high above the regulatory requirements.
Source: www.cianews.cz
