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KBC to sell its Russian subsidiary Absolut Bank
Russian Federation | December 2012


The Belgian banking and insurance group KBC has agreed to sell its Russian banking subsidiary Absolut Bank to a group of Russian investors for 300 million euros. The deal is due to be closed in the second quarter of 2013 once it has been approved by the regulatory authorities. This sale, which is expected to have a positive impact of around 100 million euros on KBC’s consolidated results in 2013 but not on the capital, should improve KBC’s tier-1 capital ratio by around 0.4 percentage points. KBC had decided to refocus on retail banking in Belgium and Central and Eastern Europe.




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Strategy & Functions


Banco Sabadell is preparing to return to Mexico

Mexico - November 2013



The Spanish bank Banco Sabadell exited the Mexican banking market eighteen months ago after having sold its 20% stake in Banco del Bajio. However, the bank’s President, Josep Oliu, has recently announced that, as part of its 2014-2016 strategic plan, the bank is considering re-entering the Mexican market. Banco Sabadell is looking into the possibility of launching banking activities in Mexico from zero.



News summary compiled by Efma Information Services

Products


Santander buys CE Capital in Scandinavia

Europe - June 2014



Santander Consumer Finance, a subsidiary of the Spanish bank Santander, has purchased GE Money Bank AB, which is the consumer finance arm of General Electric in Sweden, Denmark and Norway. The estimated amount of the transaction is EUR 700 million. With this transaction Santander Consumer Finance has acquired a portfolio of EUR 2.35 billion of direct loans and credit cards.



News summary compiled by Efma Information Services

Strategy & Functions


In Poland, BNP Paribas has acquired Bank Gospodarki Żywnościowej (BGZ)

Poland - December 2013



In Poland, the French bank BNP Paribas has acquired Bank Gospodarki Å»ywnoÅ›ciowej (BGZ), by purchasing the Dutch bank Rabobank’s 98.5% stake in BGZ for a consideration of around one billion euros. Bank Gospodarki Å»ywnoÅ›ciowej has a network of 400 branches which will enable BNP Paribas to boost its presence in Poland where it already operates under the name of BNP Paribas Bank Polska.



News summary compiled by Efma Information Services

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