BNP Paribas: boosts presence in Poland with acquisition
(CercleFinance.com) - BNP Paribas has announced an agreement with Raiffeisen Bank International to acquire the bulk of Raiffeisen Bank Polska's banking activities, which will be merged with BNP Paribas' subsidiary in Poland, BGZ BNP Paribas.
"The transaction will further strengthen BGZ BNP Paribas' position as the #6 bank in the Polish market. The combined bank would have attained an over 6% market share in loans and deposits at year-end 2017," BNP Paribas explained.
Subject to customary conditions, the acquisition is expected to be completed in Q4 this year. A price of 3.20 billion Polish zloty (c. 760 million euros) has been agreed, plus an additional 50 million zloty for projects to be developed before the deal is completed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"The transaction will further strengthen BGZ BNP Paribas' position as the #6 bank in the Polish market. The combined bank would have attained an over 6% market share in loans and deposits at year-end 2017," BNP Paribas explained.
Subject to customary conditions, the acquisition is expected to be completed in Q4 this year. A price of 3.20 billion Polish zloty (c. 760 million euros) has been agreed, plus an additional 50 million zloty for projects to be developed before the deal is completed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.