After completing the Erste Group transaction, it will significantly expand its existence in central and eastern Europe: the client base will increase by 36% to 23 million, and the total loan portfolio will increase from € 94 billion to € 131 billion.
Austrian Banking Group Erste group Graduated with a transaction for obtaining 49% of shares SANTANDER BANK POLSKA – Poland’s third largest bank – and 50% of the company management of the company management Santander TFI U Banco Santander at. The total amount of the transaction is € 7 billion. This was reported by the Erste’s press service.
According to the transaction, the Erste Group will be Poland’s largest shareholder, which really gets control over it. It is expected that this acquisition will be fully funded from the internal resources of the group, including the cancellation of the return of the ransom of € 700 million shares of € 700 million and a temporary reduction in the Dividend coefficient in 2025.
Santander Bank Polska serves more than 8% of the market, has more than € 50 billion deposits, € 37 billion loans and one of Poland’s profitable banks.
After the end of the transaction, the Erste Group significantly expands its existence in central and eastern Europe: the client’s base will grow by 36% to 23 million, and the total loan portfolio will increase from € 94 billion to € 131 billion.
The transaction is expected to increase revenue in each sharing group in 2026 by more than 20%, and the profitability for the capital (Rote) will reach about 19%. The group also plans to work with the Santander Group in the field of corporate banking, investment and payment services in Europe and America.
The operation is expected to be closed until the end of 2025 after receiving permits from regulators, including Polish financial administration (KNF) and the European Commission.
Remember that the biggest bank for the Netherlands of the Ing Group left Russia after more than 30 years of existence.
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Source: korrespondent
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