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Santander Bank Polska SASantander Bank Polska to sell 60 pct of SCB shares to SCF for PLN 3.105 bln
Listed lender Santander Bank Polska (SBP) has concluded a preliminary agreement to sell 3,120,000 shares, representing 60 percent of the share capital of Santander Consumer Bank (SCB), to Santander Consumer Finance (SCF) for PLN 3.105 billion (EUR 727.8 mln) the company announced in a market filing. The transaction requires the approval of the Polish financial watchdog KNF.
As stated, the sale of Santander Consumer Bank shares by Santander Bank Polska to Santander Consumer Finance is part of a larger transaction involving the sale of SBP shares by Santander Group to Erste Group.
"The agreed transaction price means that SBP will generate a profit of PLN 369 million at the individual level. The individual result takes into account the purchase price and income tax on the transaction," the statement reads.
"The transaction on SBP's consolidated results will take into account the net asset value of the SCB Group and other elements and exclusions and will be neutral for the profit and loss account at the SBP Group level with a reference point at the end of 2024 – the actual impact depends on the timing of the transaction and the SCB Group's YTD 2025 results," it added.
Currently, SBP holds 60 percent of the shares and votes in Santander Consumer Bank and is the parent company of SCB. The remaining 40 percent of SCB shares are held by SCF.
"At the operational and strategic level, SCB's activities are independent of SBP's activities in many areas, so the sale of the controlling stake in SCB will not have a significant impact on the activities of either bank," it said.
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