Czech anti-monopoly office approves Raiffeisen acquisition of Citibank's Czech retail
PRAGUE, Oct 9 (Reuters) - The Czech anti-monopoly office has approved Raiffeisenbank's acquisition of Citibank's retail banking and credit card businesses in the Czech Republic, the watchdog said on Friday.
Terms of the deal, signed in September, have not been disclosed. Citi said at the time the financial terms were "not material" to the bank, adding it was focused on expanding its services to Czech companies, banks and public sector clients.
Raiffeisen is the fifth-biggest bank in the central European country, a market that has helped profits at western banks after coming out of the global financial crisis relatively unscathed.
(Reporting by Jan Lopatka; Editing by Kevin Liffey)
