Erste Group acquires 49% of Santander Bank Polska

Erste Group Bank AG (Erste Group) has completed the acquisition of a 49% controlling stake in Santander Bank Polska S.A. and a 50% stake in Santander Towarzystwo Funduszy Inwestycyjnych S.A. (Santander TFI) from Banco Santander, S.A. (Santander Group).

The transaction, for a total cash consideration of approximately EUR 7.0 billion ($8.3 billion), 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 (CEE) and expanding its presence in one of Europe’s most dynamic markets.

Peter Bosek, CEO of Erste Group, commented: “Erste Group is not just an investor, we are a long-term partner committed to supporting Poland’s growth. Our commitment reflects our conviction that Poland is a cornerstone of Europe’s future and momentum. We are pleased that through our cooperation with Banco Santander, our clients will continue to benefit from Santander’s global franchise while gaining access to Erste Group’s deep expertise and robust networks across Central European markets.”

Erste Group, with its extensive network across CEE, 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 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 CEE. 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.

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 maximises 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 CEE.”

On 22 January 2026, Santander Bank Polska held its Extraordinary General Meeting (EGM). Among other points, the EGM decided on the new name of the bank and on the Supervisory Board members representing Erste Group. As communicated by Santander Bank Polska on 23 December 2025 in a notice convening the EGM, Peter Bosek, CEO of Erste Group; Stefan Dörfler, CFO of Erste Group; Alexandra Habeler-Drabek, CRO of Erste Group; and Maurizio Poletto, chief platform officer and COO of Erste Group were proposed as members of Santander Bank Polska’s Supervisory Board. Furthermore, the appointment of Bosek as Supervisory Board chair was also proposed to the EGM.

Rebranding planned for 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 EGM on 22 January 2026, “Erste Bank Polska” was proposed as the new name of the bank. After approval by the EGM, the new legal name will be registered in the National Court Register in Poland. The rebranding is planned within the second quarter of 2026.

Re-disseminated by Wealth and Society