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Weekly Lists
June 16, 2017 www.intellinews.com I Page 25
bne:Banker Poland’s Getin sells
33% stake in Belarus bank to Russian leasing company
Slovenian banks operate in stable environment, claims central bank
Poland’s Getin Holding has sold a 32.92% stake in Minsk- headquartered Idea Bank to the Russian leasing company Carcade in a rare M&A deal registered in Belarus over the past years.
Getin, which controlled almost 100% in the Belarusian operations until now, has sold 26,690 shares for 716.4mn Russian rubles (€11.16mn), BelaPAN news agency reported on June 14.
Getin acquired Minsk-headquartered Sombelbank (later rebranded Idea Bank) in 2008.
Banks in Slovenia operate in a favourable macroeconomic environ- ment, whose stability is increasing the confidence of companies and households and indicates further economics expansion, the Slovenian central bank said on June 14 in its newest Report on Financial Stability.
Slovenian banks’ lending in March amounted to €34.5bn, rising from €33.59bn in February and €33.58bn in January. Lending in Slovenia amounted to €33.91bn at end-2016, €34.98bn at end-2015 and €27.45bn at end-2014.
“Overall, in 2016, sensitivity of banks to systemic risk decreased, which gives a good basis for the revival of credit activity this year,” Banka Slovenije said.
On June 13, Belgian-based KBC Group completed the acquisition
of United Bulgarian Bank (UBB) and Bulgarian leasing services provider Interlease from the National Bank of Greece (NBG) for a total considera- tion of €610mn, representing a 1.10x multiple of the 2016 Tangible Book Value of the targets, KBC said in a statement on June 14.
KBC is already present in Bulgaria, after acquiring commercial bank CIBANK and insurer DZI Insurance in 2007. The deal will strengthen the Belgian group’s presence in the Bulgarian banking market and allow it to branch out into leasing, asset management and factoring.
The transaction was announced on December 30 and has received regulatory and anti-trust approval. The buyer will use available funds to pay the acquisition price in cash.
Belgium’s KBC completes €610mn acquisition of United Bulgarian Bank and Interlease