KNF approves BZ WBK plan to buy shares in Deutsche Bank Polska

The Polish Financial Supervision Authority (KNF) has found no grounds to object to the planned direct acquisition of Deutsche Bank’s shares by BZ WBK Poland SA, the Commission announced.

The Commission established December 31, 2018 as the date by which the shares should be acquired.

“The acquisition of Deutsche Bank shares by BZ WBK is the first stage of the transaction between Banco Santander, BZ WBK and Deutsche Bank AG, in which BZ WBK undertook to purchase an organized part of the DBPL covering retail banking, private banking and business banking as well as 100 percent of DB Securities SA shares,” the KNF added.

In December 2017, BZ WBK signed a contract to take over part of Deutsche Bank Polska’s operations, which includes retail banking, private banking, business banking and DB Securities.

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