Alior negotiations to buy Raiffeisen Bank Polska collapse

Polish lender Alior, owned by PZU has ended talks with Raiffeisen and will not be buying its Polish unit.
Alior has had exclusive bargaining rights for the assets since late September. Talks concerned the core banking operations. “As for the termination of talks with Raiffeisen, we decided that the conditions which were proposed were not satisfactory,” Michał Krupinski, CEO of PZU said.
On the same day, PZU announced it will be acquiring a controlling stake in Poland’s second biggest lender Bank Pekao.
Raiffeisen Bank International (RBI) planned to sell its Polish unit in an effort to strengthen its capital base. The bank now believes it can achieve the former without the sale.
“RBI expects to achieve its CET1 ratio (fully loaded) objective of at least 12 percent without any extraordinary measures by the end of 2017,” the statement read.
Raiffeisen is also bound by a May 2016 deal with Polish financial regulator KNF to either sell its Polish unit to a WSE-listed bank by end-year or put the full Polish unit on the Warsaw Stock Exchange by end-June 2017.

Pin It