Idea Bank increases stake in Noble

Idea Bank will acquire 1,700 shares of Getin Noble Bank, worth an estimated PLN 50 million, Idea reported in a press release on Monday.  It concluded the deal through the brokerage house Noble Securities and with the approval of the Credit Information Bureau (BIK). “Under the terms of the contract issuer purchased from Getin Noble Series A shares (1,700) with a nominal value of PLN 1,000 each. This constitutes 10.9 percent of the share capital, as well as 10.93 percent of the total number of votes at the general meeting,” part of the statement read. The transfer of shares will take place by December 23, 2016. Prior to the acquisition, Idea Bank did not hold any shares of BIK. Idea Bank also announced that under the terms of the agreement, Getin Noble will be entitled to dividend on shares of BIK for the financial year 2016. Getin Noble Bank was created by the merger of Getin Bank and Noble Bank in 2010. It is controlled by Leszek Czarnecki and is listed on the main market of the WSE. Idea Bank is based on an acquisition by Getin Holding - GMAC Bank in autumn 2010. Initially, the bank functioned exclusively on the internet. In July 2011, it opened its first outlets, mainly in the largest Polish cities. Idea Bank debuted on the main market of the Warsaw Stock Exchange in April 2015.