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RBI given more time to sell Raiffeisen Bank Polska

The Polish FSA extended the deadlines set for 's sale of Raiffeisen Bank Polska SA, without its foreign-currencymortgage portfolio, to a locally listed bank.

Taking into account that negotiations for the sale areongoing, the regulator extended the deadline for RBI to conclude them to theend of November, with the divestment to be completed as soon as possible but nolater than the end of June 2017. The FSA also expectsRBI to notify the European Central Bank by the end of October about itsintention to open a branch in Poland that will take over Raiffeisen BankPolska's demerged business comprising foreign-exchange mortgage loans.

Previously, the FSA had wanted the negotiations for the saleto be completed by the end of September and the Polish unit to be split up bythe end of December, Parkiet notedOct. 5, adding that the value of foreign-currency mortgage loans on RaiffeisenBank Polska's books amounts to 12.5 billion Polish zlotys.

Alior BankSA said in September that it launched exclusive to purchase Raiffeisen BankPolska, while PKO Bank PolskiSA said it is involved in negotiations to purchase , also aunit of RBI.

As of Oct. 4, US$1 wasequivalent to 3.85 Polish zlotys.