BNP Paribas to Buy Core Operations of Raiffeisen Polish Unit -- Update
10 Abril 2018 - 2:30AM
Noticias Dow Jones
Adds BNP details
By Max Bernhard
BNP Paribas SA (BNP.FR) has agreed to acquire the core banking
operations of Raiffeisen Bank International AG's (RBI.VI) Polish
subsidiary for 775 million euros ($953 million), in order to
strengthen its subsidiary Bank BGZ BNP Paribas SA.
The core banking operations--which will be combined with BNP's
Polish business Bank BGZ BNP Paribas--include Raiffeisen Bank
Polska SA's business, minus its foreign-currency retail-mortgage
loan portfolio and some other assets, BNP Paribas said Tuesday.
BNP Paribas expects the deal to improve earnings per share by
around 1.0% by 2020, it said.
For RBI, the sale of Raiffeisen Bank Polska SA will have a
positive impact of about 90 basis points on its common equity tier
1 ratio, which measures high-quality capital as a share of
risk-weighted assets, it said.
The sale will reduce group profit for RBI by EUR120 million,
excluding potential effects of deconsolidation, it said.
Total assets of around EUR9.5 billion and total risk-weighted
assets of around EUR5.0 billion have been allocated to the core
banking operations as of the end of 2017 as part of the agreement,
RBI said.
The deal is expected to close in the fourth quarter and is
subject to regulatory approvals.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
April 10, 2018 03:15 ET (07:15 GMT)
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