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EBRD acquires 4.5% stake in BNP Paribas Polish subsidiary

Nov 06, 2018 - Marketline Newswire

The European Bank for Reconstruction and Development (EBRD) has acquired a stake of around 4.5% in Bank BGZ BNP Paribas, the Polish arm of French banking group BNP Paribas, for PLN430m ($113.74m).

The move comes shortly after BNP Paribas acquired the operations of Raiffeisen Bank Polska. The acquired entity was merged with Bank BGZ BNP Paribas.The EBRD investment aims to support Bank BGZ BNP Paribas in realising economies of scale following the merger with Raiffeisen Bank Polska.It is also...