Poland’s Financial Supervision Authority (KNF) is not making it easy to Satander to take over Kredyt Bank. Following the AIG Bank and BZ WBK acquisitions, Belgian Kredyt Bank was to be the third Polish bank acquired by Spanish Satander in the last two years. The latest transaction would have resulted in one of Poland’s biggest banks being established but first Satander will have to meet conditions set down by the KNF. According to Parkiet.pl, the website Spanish lender needs to leave at least 25 percent of new bank’s shares freely tradable on the stock market. “If the KNF’s approach towards Santander is similar to the one it took towards UniCredit, then the Spanish bank will have to go through a real struggle,” says a lawyer who represents banks in their relations with the KNF. If he’s right, Satander would find Kredyt Bank take over much harder to achieve.
