Raiffeisen to sell its Polish unit

Raiffeisen International will sell its Polish and Slovenian operations in order to boost its capital reserves, the lender informed. Austria’s lender is also planning to get rid of its internet banking service Zuno which has been operating in the Czech Republic and Slovakia. According to the press release the company decided to implement certain measures due to “poor economic performance of some businesses which need significant capital outlays or are not strategically important.” Reuters informed about the possible sale in December last year. Polish unit, Raiffeisen Polbank is a top-eight player in the banking sector after acquiring Polbank. The bank made €84 million in Poland last year.