Erste buys Santander Bank Polska, pays PLN 584 per share
Austrian Erste Group is acquiring a 49% stake in Santander Bank Polska—the third-largest bank in Poland—for €7 billion, including Santander TFI. The deal, fully funded with Erste’s own capital, marks the group's long-awaited entry into the Polish market. Santander Group will retain full ownership of Santander Consumer Bank and 13% of Santander Bank Polska shares.
Erste’s takeover will boost its loan portfolio to €131 billion and customer base to 23 million, significantly expanding its presence in Central and Eastern Europe (CEE). After the acquisition, Erste becomes the region’s largest banking group with €430 billion in assets, surpassing rivals like Raiffeisen. It completes Erste’s strategic goal of full market presence across the CEE region.
(pb.pl)
