EBRD will take PLN 106 mln equity stake in Alior's rights issue

The European Bank for Reconstruction and Development (EBRD) is supporting Alior Bank’s expansion through its acquisition of Bank BPH’s Core Operations, which will make Alior Bank the tenth largest bank in Poland by total assets, the bank said in a press release. As a shareholder in Alior Bank, the EBRD will contribute with an equity participation of PLN 106 million (approximately €25 million) in accordance with its current stake in the bank. The acquisition, totalling approximately PLN 1.6 billion (€350 million), will be financed by a rights issue of PLN 2.2 billion (€520 million). The funds raised in excess of the purchase price will strengthen Alior’s capital base to facilitate further expansion and financing of integration costs.