Polish Financial Supervisory Authorities (KNF) approved the Polbank takeover by the Raiffeisen Bank Landesbank Holding. In exchange, the consolidated bank would have to leave at least 15 percent of its shares on the Warsaw Stock Exchange until the end of 2016. Along with Raiffeisen also its mother company RBI would have to go public, the regulator said, with the deadline for the offering to be set for 2018. RBI said it expects to close the deal in the second quarter of 2012. If successful, the lender could acquire 70 percent stake in the Greek Polbank for EU 490m.
