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BNP Paribas expands in Poland with $1 billion Raiffeisen deal

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11/04/2018

Reuters

BNP Paribas is increasing its presence in Poland with the 775 million euro ($954 million) purchase of Raiffeisen Bank International’s (RBI) main business in the European Union’s largest eastern economy.

 The French bank said on Tuesday it will merge Raiffeisen Bank Polska, Poland’s tenth largest lender by assets, with BGZ BNP Paribas, which it bought in 2014, bolstering its position as the country’s sixth largest bank.The deal by BNP Paribas, which is subject to regulatory approvals and is expected to close in the fourth quarter, underlines its determination to become a major player in Poland and could improve BGZ’s margins, Pekao Investment Banking analyst Kamil Stolarski said.

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