The Austrians will take over the Santander bank. Is the decision of the European Commission
On Wednesday, the European Commission approved the takeover of full control over Santander Bank Polska by Erste Group Bank – an official announcement was announced. This decision mainly applies to the Polish banking and financial sector.
As emphasized, The transaction does not raise concerns related to the limitation of competition on the market. The EC indicated that the combined market position of both entities remains limited, which eliminates the risk of negative impact on the market.
See also: Erste is entering the Polish banking market. These can be the consequences
We would like to remind you that at the beginning of May Erste Group signed a 49 % purchase agreement. shares in Santander Bank Polska and 50 percent at Santander TFI. The value of the transaction was estimated at EUR 7 billion.
After taking over Santander Bank Polska, the Austrians will have the largest share in our banking sector among foreign investors, but not dominant. The Erste Group is represented by Austrian capital, Santander Group – Spanish, with the Spaniards do not withdraw from Poland in full. They will take over the property of Santander Consumer Bank.
What does Santander's sale mean for customers?
It will be the largest transaction in Polish banking and the first significant ownership change in our market for a long time.
See also: Santander Bank Polska will change the owner. Investors do not like this decision
How will the prepared transaction affect the clients of the Polish-Spanish bank? – Nothing changes for Santander Bank Polska customers. The bank operates, so far, focusing on providing its clients with high -quality banking services and the best experience. Our strategy and priorities do not change. We are still working for our clients and employees – Monika Nowakowska, spokeswoman for Santander Bank Polska, argued a few months ago.
