KBC Group to acquire the Bulgarian business of Raiffeisenbank for $1.16bn.

KBC Group, a banking services provider, agreed to acquire the Bulgarian business of Raiffeisenbank, a corporate and investment bank, for $1.16bn. “Acquiring Raiffeisenbank (Bulgaria) is another testimony to our commitment to the Bulgarian market and support to the Bulgarian economy. We’re extremely happy to acquire a high-quality business with an excellent reputation and management team. Its clear focus on innovation and digitalisation, combined with a high customer satisfaction rating, mirrors our own Digital First strategy and will allow us to further expand our Bulgarian business, reaffirming our leading position in the Bulgarian financial market," Johan Thijs, KBC Group CEO.