BGŻ BNP Paribas to take over Sygma Bank

BGŻ BNP Paribas is looking forward to receive the financial watchdog's approval to acquire Sygma Bank still this year, ISBnews reported. Both lenders signed a preliminary deal in July. "The decision to take over the bank has been made, because there will be great benefits from this transaction in the near future," Józef Wancer, the CEO at BGŻ BNP Paribas pointed out. The merger is expected to be completed by the end of June next year. Sygma Bank Polska has 1 million active retail clients, its credit portfolio amounts to PLN 1.4 billion.