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AnaCap buys third bank

AnaCap, the London based private equity firm that specialises in financial services companies, has completed its acquisition of the Czech subsidiary of Italy’s Banco Popolare.

The deal to buy Banco Popolare Ceská Republika (BPCR) has been under discussion with its Italian parent for some time and is AnaCap’s third acquisition of a European bank.
The deal also makes AnaCap unique amongst European private equity firms. No other European PE firm has been allowed by regulators to take control of so many banks.
Post the credit crunch there has been intense speculation over what divestments European banks would make in order to strengthen their balance sheets and there has also been a lot of debate over what involvement private equity firms would have in this process. This deal is a good example of a bank divestment.
AnaCap now plans to transform BPCR into a dynamic, fast growing new bank. By focusing on a combination of digital banking and ‘kiosks’, as opposed to a predominantly branch based banking platform, the bank will be more efficient and responsive to customer needs
The aim for AnaCap’s banks strategy is to build new players in markets where consumers and businesses suffer from a lack of competition. The fine believes there is a big gap in the Czech market for a bank that is willing to offer its customers a better deal.
BPCR will rebrand as Equa bank and launch a new range of competitive and transparent products that really target the needs of consumers and businesses
The deal follows AnaCap’s success in transforming the other banks it has bought, Aldermore in the UK, and new private bank Mediterranean Bank in Malta. They have done that through the implementation of highly sophisticated infrastructures to facilitate accelerated growth, product development initiatives, establishment of appropriate risk management frameworks and recruitment of highly skilled management teams to execute the strategy. A bit more information on those two banks is attached but I can also give you a lot more info on both those banks.
AnaCap hopes that the acquisitions will play a key role in modernising the way banks work, to make them more efficient and better suited to its customers’ requirements

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