BNP Paribas boosts Polish assets with acquisition
(10 April 2018 – Europe) In the latest consolidation of Poland’s banking sector, a large part of Raiffeisen Bank International’s Polish business has been bought by BNP Paribas.
BNP Paribas has agreed to pay €775m for Raiffeisen’s core Polish assets, boosting the French group’s Polish assets by roughly €9.5bn and bringing the bank much closer to Poland’s top five.
The deal between BNP Paribas and Raiffeisen is the latest in a wave of consolidation in Poland’s relatively fragmented banking sector. Santander recently bought parts of Deutsche Bank’s Polish business while Bank Pekao, Poland’s second-biggest lender, is in talks to merge with another local bank Alior.
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