Latest news with #SantanderBankPolska
CNBC
05-05-2025
- Business
- CNBC
Erste acquires 49% stake in Santander's Polish unit for $7.7 billion
Austria's Erste Group Bank acquired a 49% stake in Santander's Polish unit for around 6.8 billion euros ($7.7 billion), Santander and Erste said Monday, driving shares in Santander Bank Polska down around 5% in Warsaw. Santander and Erste also reached a deal for Erste to acquire 50% of the Spanish lender's Polish asset management business for 200 million euros, they said. Erste said it would fund the acquisitions exclusively from internal resources. Its shares jumped 6.46% while those in Santander were up 0.3% by 0830 GMT. Santander, the euro zone's biggest lender by market value, said it would use part of the proceeds to grow organically in Europe and the Americas. Both banks also announced a strategic cooperation in corporate & Investment Banking (CIB), and to allow Erste to gain access to Santander's global payments platforms, Santander said. The all-cash transaction of 584 zlotys ($155) per share valued Santander Bank Polska at 2.2 times first quarter 2025 tangible book value per share or overall 13.88 billion euros. Under Polish takeover law, a bidder does not need to make a mandatory takeover offer if it holds less than 50% of the votes of the target company. The Polish unit of Santander is the country's third largest bank by assets, and also one of the most profitable on the market that, unlike the euro zone with the European Central Bank's increasingly dovish sentiment, has been enjoying high interest rates for more than two years. Santander said it intended to distribute 50% of the capital released from the sale to shareholders upon completion, which will be equivalent to a share buyback worth about 3.2 billion euros. This payout would accelerate the delivery of its up to 10 billion share buyback target for 2025 and 2026. Erste Group's funding of the acquisition is supported by the cancellation of a 700-million euro share buyback program, temporarily reduced dividend payout ratio and various balance sheet optimization measures, it said.
Reuters
05-05-2025
- Business
- Reuters
Spain's Santander sells 49% in Polish unit to Erste for $7.7 bln
MADRID, May 5 (Reuters) - Spain's Santander ( opens new tab on Monday announced the sale of a 49% stake in its Polish unit Santander Bank Polska ( opens new tab for around 6.8 billion euros ($7.70 billion) to Austria's Erste Group Bank ( opens new tab. It also reached a deal to sell a 50% stake in Santander's Polish asset management business to Erste for 200 million euros.
Irish Independent
29-04-2025
- Business
- Irish Independent
AIB's former Polish subsidiary valued at €14bn in new deal
Erste and Spain's Santander Bank announced the talks in separate statements on Monday, confirming an earlier Bloomberg News report. The deal would see Erste acquiring a 49pc stake in Santander Bank Polska for around €7.3bn, based on the most recent stock price. That would value the bank – which under a previous name, Bank Zachodni, was majority owned by Ireland's AIB – at more than €14bn. The Irish bank was forced to sell its 70pc stake in its Polish subsidiary in 2011 to allay state aid concerns raised by its own €21bn bailout. AIB sold that stake for €3.1bn to Santander, which then bought up the remaining shares in the Polish bank and bolted on Kredy Bank, another Polish lender acquired from KBC Group, to create Santander Bank Polska. It is not clear if the talks will lead to an agreement, and completion of any transaction would be subject to closing conditions, the banks said. Santander said it had 'received interest from several parties'. Since AIB sold its stake in 2011, the Polish economy has been on a strong growth trajectory, boosting the value of the bank. Shares of Erste fell as much as 4.7pc in Vienna on news of the deal. Santander Bank Polska shares also declined. Under the proposed terms, Erste would effectively gain control of the Polish lender as its largest single shareholder despite not having a majority holding, people familiar with the matter said. ADVERTISEMENT By buying less than 50pc, Erste will avoid triggering a mandatory tender for the remaining shares in the bank. A deal between Vienna-based Erste and Spain's biggest bank would be one of the largest banking transactions in Europe in recent years. The deal would deliver on Erste Group chief executive officer Peter Bosek's ambitions to expand into Poland, made public after his return to Vienna last year from Luminor Group. Erste serves more than 16 million customers across seven European countries, making it one of the largest banks in central and eastern Europe. It currently operates a brokerage in Poland. Santander Bank Polska is Poland's third-largest lender with about 7.5 million customers. It posted record net income last year, and its shares are at an all-time high. A sale of much of Santander's stake in the Polish bank would be one of the biggest moves under executive chair Ana Botin to shift the strategic focus away from Europe. It could allow her to expand in other markets and potentially use proceeds for acquisitions or to help fund buybacks. The Spanish lender announced in February it intends to buy back €10bn of its shares over the next two years using excess capital and earnings. Any transaction would require regulatory approval from the European Central Bank and the national banking authorities. That would likely be granted given that it is a deal within the European Union and wouldn't create a dominant market position or any other distortions, some of the people said.
Yahoo
09-04-2025
- Business
- Yahoo
Santander explores sale of $8bn stake in Polish unit
Banco Santander is reportedly weighing the sale of its majority stake, valued at around $8bn, in its Polish business. The Spanish financial giant, which is shifting its focus towards growth in the Americas, has enlisted an adviser to assess the future of its 62% stake in Santander Bank Polska, Bloomberg reported citing sources. Santander has begun reaching out to potential investors to gauge their interest in the stake, although discussions remain in their early stages, people privy to the development said. It is still possible that the bank may choose to retain its holding or pursue a partial sale of the shares, the sources indicated. In September, Santander raised 2.46bn zlotys ($627m) by selling a 5.2% interest in its Polish operation. However, a full sale of the business could be challenging, as the scale of the operation may make it difficult for local financial institutions to complete a purchase. The size of Santander Bank Polska could present a significant barrier to a domestic acquisition. This review of the Polish unit aligns with the bank's broader strategic shift under the leadership of Santander executive chair Ana Botín. The lender has been placing greater emphasis on expanding its footprint in the Americas, while reducing its focus on its European operations. Recent efforts include new digital banking initiatives in the US and Mexico, along with a new banking license acquired in Canada. Santander Bank Polska continues to be one of Poland's largest banks, serving a customer base of 7.5 million individuals. Nationale-Nederlanden OFE holds a 5% stake in the bank. "Santander explores sale of $8bn stake in Polish unit" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
08-04-2025
- Business
- Reuters
Santander considers options for $8 billion stake in Polish unit, Bloomberg News says
April 8 (Reuters) - Spain's Santander ( opens new tab is exploring options for its roughly $8 billion (7.3 billion euros) majority stake in its Polish unit, including a potential sale, Bloomberg News reported on Tuesday, citing people familiar with the matter. Santander shares were up 6.06% at 1451 GMT, while shares of the Polish unit, Santander Bank Polska ( opens new tab, rose 6.9% after the Bloomberg report. Santander declined to comment on the report. It owns a 62.2% stake in Santander Bank Polska. (1 euro = $1.0910)
