Raiffeisen Bank International Sells Polish Unit's Core Banking to BNP
April 10 2018 - 1:56AM
Dow Jones News
By Max Bernhard
Raiffeisen Bank International AG (RBI.VI) has agreed to sell its
Polish subsidiary's core banking operations to BNP Paribas SA's
(BNP.FR) subsidiary, Bank BGZ BNP Paribas SA, for 775 million euros
($953 million).
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.
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 02:41 ET (06:41 GMT)
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