According to the announcement, an agreement was signed on the purchase of shares in Santander Bank Polska for cash in the amount of PLN 584 per share (about 6.8 billion euros in total) and 50 percent. shares in Santander Investment Funds Society for cash of around EUR 0.2 billion from the Santander Group. In total, this gives the amount EUR 7 billion.
Before finalizing the planned acquisition, the Santander Group plans to buy a 60 % package. In Santander Consumer Bankcurrently belonging to Santander Bank Polska to have 100 percent. shares in this company.
“We are entering one of the most dynamic and profitable markets”
“Thanks to the proposed taking over the control package at Santander Bank Polska We implement a long -term strategic goal: as a leading lender in Central and Eastern Europe, we are still expanding our presence in the region and enter one of the most dynamic and profitable banking markets in Europe, “said President Erste Group, Peter Bosk, quoted in the press release.
“The acquisition of a control packet of Santander Bank Polska will allow us to generate a profitable and valuable growth. In this way, we effectively invest our capital to generate favorable phrases for our investors. The strength of our capital position means that we are able to finance this acquisition in full from the internal resources of Erste Group” – added the financial director of Erste, Stefan Dörfler.
It is expected that after this transaction, Santander Bank Polska will have over EUR 37 billion in net loans, over EUR 50 billion of customer deposits, about EUR 67 billion of assets based on the data of Pro Form for December 2024.
Erste Group intends to buy 49 percent Santander action
“Erste group intends to buy 49 percent ordinary shares of Santander Bank Polska from the Santander Group for cash in the amount of PLN 584 per share, which will make Erste Group the largest single shareholder of the bank ” – it was written in the communiqué.
“The proposed acquisition of 49 percent of shares will be provided by Erste Group de facto control over Santander Bank Polska as its single largest shareholder with the right to nominate members of the supervisory board, and through its representatives in the Supervisory Board – board members – this would also lead to full consolidation Santander Bank Polska As part of the Erste Group group after the transaction is completed, “added.
It was stated that the closing of the transaction is subject to customary regulatory approval, including in particular on the site Polish Financial Supervision Authority (KNF) and antitrust approval on the part of the European Commission.
When will the takeover be realized?
ERSTE expects the takeover to be finalized at the end of 2025, provided that regulatory approvals and other preliminary conditions are obtained, including the finalization of sales Santander Consumer Bank to the Santander Group.
Banco Santander announced that a completely cash transaction after PLN 584 per share is valued by Santander Bank Polska at 2.2 times the accounting value per share in the first quarter of 2025, excluding the announced dividend of PLN 46.37 per share, and 11 times of profits from 2024 also gives a bonus of 7.5 %. compared to the closing price of Santander Polska of May 2, 2025, excluding dividends and 14 percent. compared to the weighted average volume from six months.
Santander is the third largest bank in Poland in terms of assets
Santander Bank Polska It is the third largest bank in Poland in terms of assets. Santander TFI is a company management company from EUR 6 billion in management in management since December 2024. ERSTE said that by buying Santander it will increase its total customer base by about 36 percent. up to about 23 million customers, and the customer base in the CEE region by about 50 percent.
“The proposed acquisition would provide an erste group exposure to one of the fastest growing and the most profitable banking markets in Europewith an attractive long -term growth trajectory ” – ERSTE was written.
Ok 9.05 share price Santander Bank Polska It dropped about 3.5 percent, to PLN 569.2, after an erste group to sign a contract on the purchase of 49 percent. at Santander Bank Polska and 50 percent at Santander TFI for a total of EUR 7 billion. Erste expects the takeover of Santander Bank Polska will be finalized at the end of 2025.
