Santander Is Said to Weigh Options for $8 Billion Polish Stake
Banco Santander SA is exploring options including a potential sale of its majority stake in its Polish unit, according to people familiar with the matter.
Spain's biggest bank is working with an adviser to review its 62% stake in Santander Bank Polska SA and has reached out to gauge interest of potential investors, the people said, asking not to be identified as the information is private. Santander's stake in the unit is worth about $8 billion based on the most recent stock price.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
2 hours ago
- Bloomberg
Investors Capitalize on Europe's Defense Surge With Share Sales
Arlen SA, a Polish producer of military textiles and protective clothing, is the latest defense stock listing to test market appetite in the wake of increased military spending in Europe. The Warsaw-based company, whose sales have jumped since Russia's full-scale invasion of Ukraine three years ago, plans an initial public offering set to raise as much as 294 million zloty ($78 million). It comes after a flurry of share sales in defense-themed stocks in recent days.
Yahoo
6 hours ago
- Yahoo
Why elite Polish paratroopers are fans of jumping into a fight with their homemade Grot rifles
Poland's 6th Airborne Brigade has been using the MSBS Grot assault rifle in recent years. The gun, designed by a Polish arms maker, comes with a retractable or adjustable folding stock. This makes it a great choice for paratroopers, a Polish captain told BI last week. What kind of rifle are elite Polish paratroopers jumping into combat with? A relatively new homemade gun that they say offers flexibility and mobility needed at a time when modern warfare is showing that light infantry has a key part to play. Poland's 6th Airborne Brigade previously carried the 96 Beryl, a rifle developed by the Polish firearms manufacturer FB Radom in the 1990s. Now, the brigade is fully armed with FB Radom's newer MSBS Grot, a family of modular rifles. The gun's stock can be folded or retracted, making it compact and "good for the jump," Capt. Bartosz Januszewski told Business Insider during the Lively Sabre 25 exercise in southern Finland last week. Compact weapons are often preferred by airborne forces and mechanized infantry because they allow troops to move more freely in confined spaces, deploy more rapidly, and react quickly. They can be carried close to the body to avoid snags, and they can be swiftly extended and shouldered. Januszewski said the airborne brigade received the first MSBS Grot model in 2017. Some of the 6th Airborne are now using the third model, which was handed over in 2022, and new variations are still being developed. According to the manufacturer, the MSBS Grot fires standard 5.56×45mm NATO cartridges and has a muzzle velocity of 890 meters per second. It can shoot between 700 and 900 rounds a minute and has a range of 500 meters. The gun weighs around 4 kilograms (under 9 pounds) and is just shy of 1,000 mm (38 inches) long with the weapon's stock fully extended. Most paratroopers employ holographic weapons sights made by the US company EOTech. The gun can also be equipped with magnifier attachments and infrared lights for night vision. Januszewski said that Poland prefers to use homemade rifles rather than purchase them from another country, like the US, because it helps grow the local defense industry. It also makes it easier to liaise directly with the company to share feedback and discuss improvements. Brig. Gen. Michal Strzelecki, the commander of Poland's 6th Airborne Brigade, told BI during Lively Sabre that not all units in the Polish Army use the MSBS Grot. However, his paratroopers tend to get their hands on newer weapons systems earlier than others across the armed forces. Though some critics have complained about issues like jamming, the general called it a "very good rifle" and said he's "quite satisfied" with the weapon. A Staff Sergeant in the 6th Airborne who participated in the exercise and spoke to BI through a translator on the condition of anonymity said the MSBS Grot is better than the Kalashnikov-style Beryl he was using earlier in his career. He characterized the new rifle as being very user-friendly. Compared to the earlier Beryls, the Grot offers a more modern, adaptable, and modular rifle that Poland felt better met the demands of 21st-century warfare than Soviet-derived designs. It also strengthened the domestic defense industry. The MSBS Grot is primarily used by Polish forces, but Warsaw has sent thousands of these rifles to Ukraine to help its neighbor fend off the ongoing Russian invasion. A foreign volunteer BI spoke to earlier this year previously said he's a "big fan of the Grot." Read the original article on Business Insider
Yahoo
a day ago
- Yahoo
Financial Account Confusion Could Cause Setbacks Amid Rising Economic Uncertainty, Santander Survey Finds
52% do not realize a high-yield savings account is a good place to keep emergency savings, as many are unaware of FDIC insurance protection. Only 35% recognize that high-yield savings accounts have less risk than investment accounts. Digital engagement is preferred for managing everyday finances, including viewing account balances (74%), while in-person interaction is favored for high-touch services, such as receiving financial advice (64%). Openbank by Santander offers a simple and secure digital-first experience along with a competitive rate on high-yield savings. BOSTON, June 03, 2025--(BUSINESS WIRE)--Santander Bank, N.A. ("Santander Bank") today announced the results of a new survey that reveals misunderstandings about financial accounts, such as savings and investments, could be leading to a misalignment between consumers' financial goals and where they keep their money. For instance, 52% do not realize a high-yield savings account is a good place to keep emergency savings, and just 28% know these accounts with an FDIC member institution are safe and secure1. This confusion comes at a time when Americans are increasingly worried about market conditions, putting even more significance on their financial decisions. "During times of volatility, it is even more important for consumers to be equipped with the information they need to make sound financial choices," said Swati Bhatia, Head of Retail Banking & Transformation for Santander Bank and CEO for Openbank in the United States, Santander's new national, digital banking platform. "Consumers are worried about uncertainty, and they are confused about what accounts best align with their goals. Financial institutions such as Santander have an opportunity to help guide them to the right accounts to meet their needs." The findings are part of the fifth installment of Santander Bank's Openbank Growing Personal Savings ("GPS") Tracker, a research series exploring Americans' spending and savings habits. Consumers Blur the Line Between Saving and Investing The survey found consumers may be mistaking higher-yielding bank accounts, such as high-yield savings accounts, with investment accounts that may involve risk of loss of principal. For instance, 35% realize high-yield savings accounts are safer than accounts that have various investment options, such as stocks and bonds, and four in 10 (42%) know that high-yield savings accounts are generally predictable from month-to-month. This lack of knowledge of high-yield savings offerings could lead savers to keep their money in lower-yielding accounts that they incorrectly view as less risky. Americans also lack an understanding of the risks of investing, which could expose savings to market volatility. More than four in 10 (43%) do not realize accounts with various investment options involve risk of loss, including 13% who do not believe there is any risk and 30% who do not know. Meanwhile, just over half (54%) believe the stock market is generally unpredictable month-to-month, with fluctuations that can earn compelling gains over time, but can also lead to near-term losses. Some consumers with brokerage accounts are exposing their savings to this volatility by using these accounts for shorter-term goals, such as emergency savings (34%) or vacation and leisure expenses (18%), subjecting them to a potential downturn when they need to access their funds. Consumers Miss Out on Interest and Safety While Preparing for the Unexpected While most investors remained undeterred amid stock market losses and economic uncertainty in Q1—with just 17% reducing regular contributions to investment accounts—savers were quick to adjust. Nearly six in 10 Americans (58%) shifted their savings approach during this time, as more focus on saving for emergencies—the most common change since the start of the year. This shift may be needed, as less than half of consumers (45%) are comfortable with the emergency savings they have, and 51% do not have at least three months' worth of emergency savings available. Americans can accelerate progress toward their goals by using higher-yielding savings options—such as high-yield savings accounts or certificates of deposit (CDs)—but a majority (65%) do not have one of these accounts. Instead, most savers use low-growth alternatives—including traditional savings accounts (39%) or checking accounts (32%)—as their primary savings destination. Seven in 10 do not realize there are high-yield savings accounts that pay at least a 4.00% Annual Percentage Yield (APY), roughly 10x the national average2. Meeting Customers Where They Are and Where They Are Going Financial institutions have an opportunity to help customers bridge this knowledge gap, but they must meet them where they are, with digital channels becoming increasingly popular. Most bank customers already favor digital interactions for staying on top of everyday finances, including viewing account balances (74%) and transferring money between accounts (69%), while in-person engagement is generally preferred for high-touch services, such as receiving financial advice (64%) or opening an investment account (64%). The trend continues to point toward digital platforms, with Gen Z and Millennials being more likely to skew digital than older generations for actions such as opening a checking or savings account (49%) and getting account assistance (46%). "The findings reinforce our aspirations to transform into a full-service digital bank with branches, offering customers flexibility and peace of mind knowing their money is with a bank that is part of one of the largest financial institutions in the world," Bhatia said. "Traditional banks lack the digital capabilities of fintechs, while fintechs do not offer in-person interaction customers may sometimes require. Openbank blends the agility of a fintech with the personal touch of an in-person experience, allowing us to better meet consumers' evolving needs." Methodology This research on growing personal savings, conducted by Morning Consult on behalf of Santander Bank, surveyed 2,253 Americans adults. This Q1 study was conducted between March 31 – April 1, 2025. The interviews were conducted online, and the margin of error is +/- 2 percentage points for the total audience at a 95% confidence level. This data was weighted to target population proportions for a representative sample based on age, gender, ethnicity, region, and education. Monthly measures were based on additional monthly survey pulses, conducted by Morning Consult on behalf of Santander Bank, of approximately 2,200 Americans adults per month. The monthly iterations were conducted January 16 - 17, February 14 – 16, and March 14 - 16, 2025 to measure month-over-month changes. Each monthly survey was conducted online, and the margin of error is +/- 2 percentage points for the total audience at a 95% confidence level. The full report and more information about the Santander Bank, N.A. survey can be found here. 1FDIC (Federal Deposit Insurance Corporation) insurance is a federally backed deposit insurance fund that protects any insured account against loss due to bank failure. Under the FDIC, the standard coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category (e.g. single, joint, trust, business, etc.). 2The typical savings account has an Annual Percentage Yield (APY) of 0.41%, according to the FDIC as of April 21, 2025. About Santander Bank, N.A. Santander Bank, N.A. is one of the country's leading retail and commercial banks, with $102 billion in assets as of December 31, 2024. With its corporate offices in Boston, the Bank's more than 4,400 employees and more than 1.8 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, and Florida. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN), recognized as one of the world's most admired companies by Fortune Magazine in 2024, with approximately 175 million customers in the U.S., Europe, and Latin America. It is overseen by Santander Holdings USA, Inc., Banco Santander's intermediate holding company in the U.S. For more information on Santander Bank, please visit Openbank in the United States is a division of Santander Bank, N.A., which is a Member of FDIC and a wholly owned subsidiary of Banco Santander, S.A. © 2025 Santander Bank, N.A. All rights reserved. Santander, Santander Bank, Openbank, the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners. For more information on Openbank in the United States, please visit View source version on Contacts MediaAndrew Caroline Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
