There is consent for the passage of Raiffeisen. Pena control at BG BNP Paribas

The European Commission accepts the transition of control over Raiffeisen Bank Polska by BG BNP Paribas. Next year, the operational merger of the two banks should begin.

European officials considered that the proposed transaction would not raise competition concerns. The potential effects of the acquisition were analyzed as part of the simplified procedure

The BNP Paribas group and the bank BG BNP Paribas concluded on April 10th the purchase agreement of the party from Raiffeisen Bank Polska. The acquired part of the activity includes basic banking activities except the mortgage loan portfolio and several other assets

The transition was estimated at 3.25 billion

The calendar of transactions provides that BG BNP Paribas will increase its equity by 800 million in July. In turn, the division of the bank and the closing of the transaction for the fourth quarter. An operational merger was scheduled for the following year

It has long been said that the Austrians were selling Raiffeisen Polbank, because the Polish market lacks the appropriate scale of activity to generate the expected profits. The French, on the other hand, realize that after taking charge, there will be sidmes and banks of ten in Poland in their hands. Together, they would jump, among others ING Bank lski

"Polish banks enter the Western markets"

"Thanks to the complementarity of the activities of the two banks, the transaction will allow the bank to become the largest bank. 39; one of the main market players with more than 100 billion PLN by the bank a position of a bank in the market in Poland and will allow them to enter the first market "- a declared BG BNP Paribas

Read more: BG BNP Paribas survey on the value of transactions

Raiffeisen and BG BNP in Poland have networks of complementary outlets. The institution will have an equal presence in large cities, as well as in medium and smaller cities. IT units will remain in Warsaw and Krakow, and operational structures will remain in Krakow and Ruda.

Raiffeisen Bank Polska, founded under the name Raiffeisen Polbank, was founded in 1991 and is one of the most active banks in the Polish market. participation of foreign capital. In early 2013, promotion to the group of the largest banks in Poland following the merger with Polbank EFG SA

At the end of 2017, the core assets of Raiffeisen amounted to PLN 39.8 billion, gross loans to customers – 19 billion PLN and deposits – 34.4 Therefore, the two institutions had 112.6 billion assets, gross loans sigay 74.8 billion, and deposits – 88.8 billion.

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