Raiffeisen Bank received 12 offers for Ukraine arm, CEO tells paper

VIENNA Mon Feb 10, 2014 2:40am EST

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VIENNA Feb 10 (Reuters) - Raiffeisen Bank International has received 12 offers for its bank business in Ukraine, which is under review as the Austrian lender focuses on six core markets, Chief Executive Karl Sevelda told a newspaper.

"We are holding talks with interested parties. There were 12 offers initially. We excluded a few. A few of the interested parties are conducting due diligence," Sevelda said in Austrian daily Die Presse on Monday, addingthat a sale is not definite.

He said that the Austrian bank's Ukraine business made a profit of 90 million euros ($122.6 million) last year and had a book value of about 820 million euros

Central and eastern Europe's second-biggest lender said last year that it could exit Slovenia, Ukraine and Hungary but had no definite plans to do so.

Sevelda told the newspaper that a sale of the business in Hungary was "off the table" after it had reviewed offers that did not meet its expectations.

"I think the worst is over in Hungary," he said, adding that officials there realised that a healthy banking sector is key to having a sound economy. ($1 = 0.7343 euros) (Reporting by Michael Shields; Editing by David Goodman)


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