Santander “organizes documents”. Santander Consumer Bank for over 3 billion will go to SCF

Santander Bank Polska concluded a preliminary sales contract of 3,120,000 shares, constituting 60 percent. Santander Consumer Bank to the Santander Consumer Consumer Finance for PLN 3,105 million – the company said in a press release. The implementation of the transaction requires the consent of the PFSA.

As reported, the sale of the Santander Consumer Bank shares by Santander Bank Polska to Santander Consumer Finance is part of a larger transaction of SBP shares sales through the Santander Group to Erste Group.

“The agreed transaction price means that the SBP will generate a profit of PLN 369 million at the unit level. In the case of the unit result, the purchase price and income tax on the transaction were taken into account,” it was written.

“The transaction on consolidated SBP results will take into account the net assets of the SCB group as well as other elements and exclusion and will be neutral for the profit and loss account at the SBP group level with the reference point at the end of 2024 – the actual impact depends on the moment of transaction and results of the SCB YTD group 2025.” – Added.

Currently, SBP has 60 percent. Santander Consumer Bank shares and votes and is the dominant subject of SCB. The remaining 40 percent SCB has SCF.

“At the operational and strategic level, SCB activities are in many areas independent of SBP's activities, so selling the control package at SCB will not have a significant impact on the activities of any of the banks” – it was written. (PAP Biznes)

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