The Spaniards confirm the interest of the Austrians. It's about control over the Polish banking giant

The Spanish Banco Santander confirmed in a stock office that he is conducting talks with Erste Group Bank AG, the largest lender in Austria about the sale of 49 percent. shares in Santander Bank Polska SA, one of the leading banks on the Polish market.

Thus, the Monday reports of Bloomberg were confirmed about the interest in Erste Group with the control package at Santander Bank Polska. This is currently number two on the Polish market in terms of capitalization (PLN 62.5 billion) and number three when it comes to the amount of assets in the balance sheet. The fact that the Spaniards investigate the option of selling the Polish bank's shares was informed for the first time on April 8 this year.

The agreement between the Austrian Erste and the largest Bank of Spain would be one of the largest banking transactions in Europe in recent years – informs Bloomberg, according to which Banco Santander is considering selling 62 percent. of its shares in the Polish bank. According to estimates, the value of a potentially subject to sales is currently around EUR 7.3 billion based on the current share price.

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Banco Santander has just confirmed conversations with Erste about the sale of 49% of shares in @Santanderbankpl – confirming BloombergaHttps information: //t.co/mjwgl3rznzhttps: //t.co/kex6uanvjf pic.twitter.com/e8epPLN8Chcze

– Konrad Krasuski (@kkrasuski) April 28, 2025

As part of the ERSTE transactions, he would become the largest single shareholder of the Polish bank, obtaining actual control over its activities, despite the lack of a majority package of shares. Purchase of a share below the threshold of 50 percent It would allow the Austrian bank to avoid the obligation to announce a forced call for other Santander Bank Polska shares, notes Bloomberg.

According to the proposed conditions, Erste would actually take control of the Polish lender as his largest single shareholder. Currently, it is not certain whether the negotiations will end with the conclusion of the contract. The finalization of the transaction will depend on meeting specific closure conditions, results from the Wednesday message Banco Santander.

Erste Group Bank AG is one of the largest banks in Central and Eastern Europe, serving over 16 million customers in seven countries. Its capitalization on the Vienna Stock Exchange is around EUR 25 billion. In turn, Banco Santander is the most valuable bank in continental Europe valued at around EUR 97 billion. The option of selling the Polish Santander is to result from the desire to focus on expansion in the Americas and reducing commitment in Europe.

Mku

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