French lender BNP Paribas SA is said to be in the final stages of discussions to acquire Raiffeisen Bank International AG's Polish unit, Raiffeisen Bank Polska SA
"A senior banking source" told Reuters that a decision will be taken "within two weeks, at the beginning of April at the latest."
Przemyslaw Gdanski, CEO of BNP Paribas' Polish unit Bank BGZ BNP Paribas SA, said March 14 that the lender has put on hold the presentation of its new strategy as it was weighing its growth prospects on a "fundamental" level.
"We must wait a few more weeks, then we will have clarity regarding the main directions of growth the bank will pursue," Gdanski reportedly said, adding that the company expects to outline its plans by April.
A separate source from the Polish financial market told the newswire that the deal could get regulatory approval on condition that Raiffeisen Bank Polska's Swiss franc portfolio remains on its Austrian parent's books.
Raiffeisen Bank Polska has a book value of 6.49 billion Polish zlotys and assets of 48.97 billion zlotys, Reuters said, noting that its Swiss franc mortgage portfolio stands at roughly 9.7 billion zlotys.
Meanwhile, RBI stressed March 14 that plans to float its Polish unit or sell a majority stake in its main banking operations are still on the cards, Reuters added.
BNP Paribas will likely agree to pay for Raiffeisen Bank Polska's assets at a level of around 1.0x the book value or slightly lower, the newswire said, citing three bankers.
As of March 14, US$1 was equivalent to 3.39 Polish zlotys.
