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Erste Bank takes over Intermarket Bank
With the acquisition of the Polish subsidiary of Commerzbank, Erste plans to significantly expand its corporate business and invests in factoring.
Erste Bank takes over Intermarket Bank / Picture: © Erste Group / Christian Wind
Erste Bank der oesterreichischen Sparkassen AG (Erste Bank Oesterreich) has acquired a majority stake in Intermarket Bank AG from the Polish BRE Bank, a subsidiary of Commerzbank. The agreement was signed on Friday. With a volume of € 3.6 bn in receivables, Intermarket is the largest factoring bank in Austria and with an additional € 2.2. bn also ranks first in…
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