Online Bank, Zuno for Sale
- New Europe Investor
- January 20, 2015
With operations in Czech Republic and Slovakia, online bank Zuno is looking for a new owner.
Zuno is currently owned by Austrian Bank, Raiffeisen Bank International (RBI), and is headquartered in Vienna.
The bank is currently generating losses, primarily as a result of poor market penetration. Zuno currently has around a quarter of a million customers between the two countries.
However, a spokesman for the bank, Luke Tomis said the bank was ‘in the best shape since its inception’.
He added that nothing will change for clients and that all campaigns, activities and projects will continue as normal.
Zuno Bank was launched in 2010 for customers who conduct their banking activities over the internet and rarely visit branches. The aim was to enshrine a growing trend, into its business model.
Its website states ‘direct banks are the banks of the 21st century. Zuno was launched to meet the needs of modern individuals who love simplicity, and who treat the internet as their natural environment.’
It does however, have two branches, one in Bratislava and one in Prague.
Zuno holds an Austrian banking licence, and intends to enter other Central and Eastern European markets in the future.