New investors may boost competition in Polish banking sector, says head of financial watchdog KNF
The entry of new investors into the Polish banking market could enhance sector competition and improve offerings for clients, the head of Poland's financial market regulator KNF Jacek Jastrzebski wrote on X.
"We believe that the emergence of new investors in the banking market may contribute to increasing the competitiveness of this sector, as well as enriching or improving the offer for its clients," he wrote.
He explained that good market practice involves informing Poland's financial market regulator's office UKNF in advance about planned ownership changes and consulting the regulator, as was the case with Erste Group’s acquisition of shares in Santander Bank Polska.
He added that the KNF supports parties to such transactions with its expertise, ensuring compliance with regulations on acquiring qualified stakes in banks.
Earlier today, Austrian financial service provider Erste Group Bank has signed an agreement to buy 49 percent of listed lender Santander Bank Polska and 50 percent of Santander TFI for a total of EUR 7 billion, Erste said in a market filing. Erste expects the acquisition to be finalised by the end of 2025.
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