Erste Bank plans offer to raise stake in Erste Bank Polska by up to 26%

• The tender offer is expected to launch in November at approximately 713 zloty ($185.95) per share, funded from internal resources
• Erste currently holds 49% of Erste Bank Polska after acquiring a stake from Santander earlier in 2026 as part of its Central and Eastern Europe expansion strategy
• Erste Group is targeting a post-offer Common Equity Tier 1 ratio above 14.25%, down from 15.2% at the end of the first half of the year

Erste Group Bank Plans Stake Increase in Polish Subsidiary

Austria's Erste Group Bank announced Friday plans to launch a tender offer to acquire an additional stake of up to 26% in Erste Bank Polska, aiming to strengthen its position in the strategically important Polish market.

Key Transaction Details:

• Tender offer expected to launch in November at approximately 713 zloty ($185.95) per share
• Target stake: increase from current 49% to above 50%, but remain below 75% to maintain minimum free float requirements
• Erste Bank Polska is Poland's third-largest bank by assets and among the country's most profitable lenders
• Financing will come from internal resources

Financial Metrics:

• Post-offer Common Equity Tier 1 (CET1) ratio targeted above 14.25%
• Current CET1 ratio stands at 15.2% as of H1 2024, indicating strong capital position
• Exchange rate: $1 = 3.8344 zlotys

Strategic Context:

Erste Group acquired its initial 49% stake in Erste Bank Polska from Santander earlier in 2024 as part of its broader Central and Eastern European expansion strategy. The bank operates major franchises across eight CEE countries: Austria, Czech Republic, Slovakia, Romania, Hungary, Poland, Croatia, and Serbia. Erste's earnings are heavily dependent on economic performance in this region.

Market Implications:

The move reflects continued consolidation in the CEE banking sector and Erste's commitment to deepening market penetration in Poland, one of the region's largest economies. The acquisition maintains compliance with free float regulations while securing majority control, demonstrating sophisticated capital management in a key growth market.