BZ WBK and Deutsche Bank Polska sign demerger plan

WSE-listed lenders BZ WBK and Deutsche Bank Polska agreed on the terms of the demerger plan and plan on finalizing the deal before end-2018, the banks said in a market filing. The banks will now file a motion with Financial Supervision Authority KNF to approve the demerger of Deutsche Bank Polska. Mid-December, 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. The preliminary price for the acquisition of assets is PLN 1.29 billion, of which 20 percent is to be paid in cash, and 80 percent in equity.