Erste Group successfully completes acquisition of 49% controlling stake in Santander Bank Polska, „the largest cross-border transaction in the European banking sector in the past 20 years”

Erste Group Bank AG (“Erste Group”) today announced the successful completion of its acquisition of a 49% controlling stake in Santander Bank Polska S.A. and a 50% stake in Santander Towarzystwo Funduszy Inwestycyjnych S.A. from Banco Santander, S.A.. The transaction, for a total cash consideration of approximately 7.0 billion euros, transforms Erste Group into the main shareholder with de facto control of Poland’s third-largest bank by assets. This strategic acquisition marks a significant step in strengthening Erste Group’s position in Central and Eastern Europe and expanding its presence in one of Europe’s most dynamic markets.

Peter Bosek, CEO of Erste Group (photo right), commented: “You do not often know the exact moment when history is made. Today, we did. That is when 49% of the shares in Santander Bank Polska were transferred to Erste Group. We now have a controlling stake in Poland’s third-largest bank by assets, thus marking the closing of the largest cross-border transaction in Europe’s banking sector in the last 20 years.

This is more than a strategic milestone. It is a moment of becoming. It strengthens our position as the leading financial institution in Central and Eastern Europe, now serving more than 23 million clients, and it underlines our deep conviction that Poland is a cornerstone of Europe’s future and its momentum.”

Michał Gajewski, CEO Santander Bank Polska S.A (photo left), stated: “The best way to predict the future is to create it.” Today, we have created a partnership that will pave the way for future growth for our customers, employees, shareholders, and the Polish economy! We are excited to join the Erste Group family and to gain an investor with extensive understanding, deep experience, and strong commitment to our CEE region.„

Erste Group, with its extensive network across Central and Eastern Europe, is uniquely positioned to support corporate clients in expanding internationally. This is important given the strong economic ties between Poland and the broader CEE region, as they rank among each other’s most important trading partners after Germany. Furthermore, Polish companies invest more than 25% of their foreign direct investments into CEE, making it their top investment destination.

Erste Group and Santander Group announce new strategic alliance for corporate and institutional clients
Erste Group and Santander Group are entering into a new strategic alliance to better serve corporate and institutional clients across borders. Santander provides access to its international network and global product platforms, while Erste contributes its deep expertise in Central and Eastern Europe. The aim is to broaden offerings and support clients in their international growth strategies.

Corporate and institutional clients also stand to benefit through a broader range of services in corporate, investment and correspondent banking, markets, cash management, export finance, as well as trade and working capital solutions. By combining strengths and sharing best practices, Erste Group and Santander Group will bolster their ability to originate and execute large-scale transactions globally.

Profitability set to improve significantly
The transaction is expected to deliver a significant improvement in Erste Group’s profitability. For 2026, the return on tangible equity (ROTE) is projected at approximately 19%, while earnings per share (EPS) in 2026 are anticipated to increase by more than 20%. This enhanced profitability will further strengthen Erste Group’s ability to deploy capital in a way that maximizes shareholder value.

Stefan Dörfler, CFO of Erste Group, said: “This acquisition represents a strategic investment in Erste Group’s future growth. It leverages our strong capital position and demonstrates our ability to allocate resources effectively while maintaining financial discipline. The Polish market offers significant long-term potential, and this transaction will create sustainable value for our shareholders. At the same time, it supports our ambition to deliver profitable growth across Central and Eastern Europe.”

Rebranding planned within the second quarter of 2026
With Erste Group as its new main shareholder, Santander Bank Polska plans to rebrand and change the legal name of all its entities. Reflecting its membership in Erste Group, all companies belonging to Santander Bank Polska Group that have “Santander” in their name will undergo rebranding. At the Extraordinary General Meeting of Santander Bank Polska to be held on 22 January 2026, “Erste Bank Polska” will be proposed as the new name of the bank. After the approval by the EGM, the new legal name will be registered in the National Court Register in Poland. Rebranding is planned within the second quarter of 2026.

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Erste Group is the leading financial services provider in the eastern part of the EU. Its ca. 55,000 employees serve around 23 million customers across 8 core markets (Austria, Croatia, Czechia, Hungary, Poland, Romania, Serbia, and Slovakia), including through over 2,100 branches. Founded in 1819 as the first savings bank in Austria, Erste Group went public in 1997 with a strategy to expand across Central and Eastern Europe. For over 200 years, Erste has been committed to creating prosperity for its customers with a wide range of products and personalised services.