The Santander Group announced its decision to sell approximately 49% of Santander Bank Polska S.A. for around 6.8 billion euros, alongside a 50% stake in the asset management company TFI for 200 million euros.
Post-transaction, Santander will retain about 13% of Santander Polska’s capital and intends to acquire full ownership of Santander Consumer Bank Polska, stated the Spanish banking giant.
The completion of this transaction is contingent upon regulatory approval and is expected to conclude by the end of the year, according to the bank.
Santander Polska emerged from a merger between Bank Zachodni and Wielkopolski Bank in 2001.
Santander Polska ranks as one of Poland’s most prominent banks, contributing 800 million euros to Santander’s 2024 profits, with Santander being one of the largest financial groups globally.
Erste Group, an Austrian financial institution, stands as a significant player in Central European banking with operations in seven countries, namely Austria, Czech Republic, Slovakia, Hungary, Croatia, Serbia, and Romania.
The two entities have also unveiled a “strategic collaboration” agreement aimed at leveraging both groups’ strengths in corporate and investment banking and granting Erste access to Santander’s global payment platforms.
Last week, Santander announced first-quarter profits of 3.402 billion euros, marking a 19% increase compared to the same period in 2024.
As a major global bank, Santander operates in several European and American markets, including Portugal, with Santander Totta.
Santander achieved profits of 12.574 billion euros last year, reflecting a 14% increase from 2023 and setting a record for the third consecutive year.
