Raiffeisen Negotiates over Polbank

Professional ServicesBanks ♦ Published: December 23, 2010; 22:19 ♦ (Vindobona)

The Austrian Raiffeisen Bank International (RBI) negotiates actively for the Polish Polbank.

Raiffeisen Negotiates over Polbank / Picture: © Raiffeisen Bank International AG / S. Klimpt

The RBI has previously only made one proposal to the owner of Polbank, EFG Euro Bank. The efforts will be intensified presently, targeting the desired acquisition. Raiffeisen is however not the only bidder for Poland's eighth largest bank. Polbank has total assets of € 5.7bn and 700,000 customers, but has had losses in recent quarters.

RBI sees the retail business of Polbank as…