BGŻ BNP Paribas acquires core business of Raiffeisen Bank Polska for PLN 3.25 bln

WSE-listed lender BGŻ BNP Paribas agreed to buy core business of Raiffeisen Bank Polska (RBPL) for PLN 3.25 billion. “The transaction will allow the bank to become a Tier 1 market player with over PLN 100 billion total assets, will further strengthen the Bank’s position as the #6 bank in the Polish market and challenge top 5,” BGŻ BNP Paribas said in a statement. The transaction is expected to be closed in the fourth quarter of 2018. As at December 31, 2017, the core business of RBPL had a portfolio of PLN 19 billion of gross loans and PLN 34.4 billion of deposits.