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Erste Group Expands into Poland: Takeover of Santander Bank Polska worth Billions
The Austrian Erste Group Bank AG has announced a step towards expansion in Central and Eastern Europe. The bank is acquiring a 49 percent stake in Santander Bank Polska for around EUR 6.8 billion and a 50 percent stake in asset manager Santander TFI for a further EUR 200 million. This transaction made Erste Group the third-largest bank in Poland and expanded its customer base in the region to around 23 million people.
Erste Group Bank AG acquires 49 percent stake in Santander Bank Polska and 50 percent in Santander TFI, making it the third largest bank in Poland. / Picture: © Wikimedia Commons / Erstebank / CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/deed.en)
Santander Bank Polska, previously a subsidiary of the Spanish Banco Santander, is the third-largest bank in the country with around 7.5 million customers. It achieved record profits in 2024 and its shares rose to an all-time high at times. Erste Group is entering a market that not only has strong economic fundamentals but also long-term growth prospects. Poland has been regarded as the…
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