Banka CREDITAS acquires majority stake in NEY spořitelní družstvo

Banka CREDITAS acquired more than 50% of shares in NEY spořitelní družstvo. The transaction has already been approved by the Czech National Bank. Ney will now operate as a subsidiary of Banka CREDITAS.

“Banka CREDITAS has ambitions to grow continuously. Two years ago it added Max banka to its portfolio. This year we will expand with the NEY spořitelsní družstvo. The purchase of NEY is fully in line with our strategy. The business models of both Banka CREDITAS and NEY spořitelní družstvo are complementary and can further develop services for clients,” says Vladimír Hořejší, Chairman of the Board of Directors of Banka CREDITAS.

NEY spořitelní družstvo is a traditional financial institution celebrating 24 years on the market this year with over 3,600 members. It focuses on clients from the ranks of citizens, sole traders and companies. The flagship of the product portfolio are corporate loans for small and medium-sized entrepreneurs and insured term deposits with favourable appreciation. The capital exceeded half a billion CZK. The profit for 2023 exceeded CZK 34 million. The balance sheet total is over CZK 3 billion.

“The merger with Banka CREDITAS is a confirmation for NEY spořitelní družstvo of a well-set long-term strategy based on close cooperation with clients. The results we have achieved over the last three years are proof of that. We believe that in cooperation with the CREDITAS Group there is room for further growth in the field of financing small and medium-sized enterprises,” said Lukáš Hartl, Chairman of NEY spořitelní družstvo.

Banka CREDITAS is a medium-sized bank with over 200,000 clients, a balance sheet total of over CZK 130 billion and a net profit of more than CZK 1.1 billion last year.