US EditionSantander raises €7bn from Poland sale
- On May 5, 2025, Santander announced it will sell a 49% stake in its Polish bank and asset management units to Austrian Erste Group for €7 billion in cash.
- Santander’s strategic decision follows market conditions of global economic growth forecasts falling to 3.1%, affected by geopolitical tensions and volatility.
- The partnership includes Erste accessing Santander’s payment platform and cooperation in Corporate & Investment Banking, aiming to expand market presence and client services.
- Erste Group CEO Peter Bosek stated that the company is achieving a key strategic objective by increasing its footprint across Central and Eastern Europe and entering one of the continent’s most vibrant and lucrative banking markets.
- The deal will strengthen Erste’s footprint in Central and Eastern Europe by increasing clients by 36%, while enabling Santander to accelerate share buybacks and focus on core operations.
32 Articles
32 Articles
Santander earned 6.8 billion euros from the sale of its stake in a Polish bank
Spanish bank Santander is reducing its presence in the Polish retail banking market and has earned 6.8 billion euros from the sale of its stake. Santander plans to use the proceeds to buy back shares.
Santander Sells Bulk of Polish Banking Business for $7.9 Billion - PYMNTS.com
Santander Sells Bulk of Polish Banking Business for $7.9 Billion PYMNTS.com Article Attribution | Read More at Article Source The post Santander Sells Bulk of Polish Banking Business for $7.9 Billion – PYMNTS.com appeared first on RocketNews.
Banco Santander sells 49% of its Polish subsidiary to the Austrian Erste Bank for 7 billion
Banco Santander closes the sale of 49% of Santander Polska to the Austrian group Erste Bank for 584 zlotys per share, which values the bank at 2.2 times its tangible accounting value per share at the close of the first quarter of 2025 after discounting the dividend of 46.37 zlotys per share, which will be subtracted from the quote from next May 12. This means valuing the share at 6,800 million euros with a premium of 7.5% compared to the closing…
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