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Idea Bank off-loads tax services unit to debt-collecting subsidiary

Idea Bank SA completed the sale of a 100% stake in tax services provider Tax Care to factoring and debt collection company Idea Money SA, also controlled by the lender.

The transaction price, amounting to 370 million Polish zlotys, will be settled by the buyer by Dec. 31, the bank said.

As of March 31, US$1 was equivalent to 3.96 Polish zlotys.