The Croatian competition authority, AZTN, has granted approval for the merger between Raiffeisen Bank International AG and Addiko Bank AG. This merger involves Raiffeisen gaining direct control over Addiko Bank, which is based in Vienna, Austria, and indirectly over Addiko Bank d.d. in Zagreb.

The complete merger application was submitted by Raiffeisen Bank International AG on October 1, 2026, in accordance with Croatian competition law. AZTN published a public call for comments on the merger on October 8, 2026, but received no objections by the deadline of October 19, 2026.

The evaluation process was temporarily halted to prevent foreign investment without proper clearance from the Croatian Ministry of Finance. The process resumed after Raiffeisen provided the necessary clearance documentation on September 2, 2026.

This merger primarily affects the banking sector in Croatia, particularly in the areas of consumer deposits and loans for both individuals and legal entities. Raiffeisen Bank and Addiko Bank d.d. are universal banks offering a range of banking and financial services in Croatia.

As of 2025, Raiffeisen Bank held the sixth largest market share in Croatia with approximately 5-10% of total assets, while Addiko Bank d.d. ranked seventh with less than 5%. Post-merger, their combined market share is expected to be around 10-20%, positioning Raiffeisen as the fourth largest bank in Croatia.

AZTN noted that the Croatian banking market is characterized by the presence of several large banks, with the main competitors being Zagrebačka banka, Privredna banka Zagreb, and Erste & Steiermärkische Bank, which together control over 60% of the market.

While the merger reduces the number of competitors, it is expected to enhance competitive pressure on the largest banks in Croatia. AZTN concluded that the merger does not significantly harm competition and is therefore permissible under Croatian law.