Raiffeisenbank Kleinwalsertal, an Austrian private bank which is in the process of rebranding its business into Walser Privatbank, will expand its operations in Germany and Spain, the firm told WealthBriefing.

The firm plans to open branches in Düsseldorf, Munich and Stuttgart, as well as Palma de Mallorca. It already has small representative offices in Düsseldorf and Palma.

The private bank will then offer wealth management services to its clients in the two countries.

However, at this time the bank is still in the process of applying for the relevant licences and it does not expect the new offices to open its doors before the end of the year.

Raiffeisenbank Kleinwalsertal expects to launch under its new brand name Walser Privatbank within the next few weeks.