Spain-based lender Santander has sold approximately 3.5% stake in its Polish subsidiary, Santander Bank Polska, through an accelerated bookbuilding deal.
Previous reports from Reuters mention that the transaction is valued at nearly USD 473 million and comes after an earlier agreement from May 2025, when Santander agreed to sell a 49% stake in Santander Bank Polska to Erste Group Bank for USD 7.9 billion.
Background and details on the deal
After the stake sale to Erste Group Bank, Santander was left with approximately 13% ownership in its Polish subsidiary. The lender finalised the placement of 3.58 million ordinary shares of Santander Bank Polska, which represented nearly 3.5% of the unit’s share capital. The price for each share was around USD 132.33. The group currently hold 9.7% in the Polish subsidiary, following the placement and the divestment of a 49% stake in Stander Bank Polska to Erste Group.
Back in May 2025, in addition to the stake sale, Santander joined Erste in a strategic partnership aimed at utilising each other’s capabilities and experience in corporate and investment banking. The collaboration also saw Erste gaining access to Santander’s global payments platform.
Fast forward to June 2025, Santander Bank agreed to divest seven branches in Pennsylvania, the US, to Community Financial System’s subsidiary, Community Bank. The sale of its branches was based on the financial institution’s plans to become a digital-first bank.
However, in July 2025, Santander agreed to acquire TSB Banking Group from Banco de Sabadell in a deal valued at USD 3.5 billion. Structured as an all-cash acquisition, the transaction was expected to close in the first quarter of 2026, pending regulatory approval from Sabadell’s shareholders.
In the fall this year, more specifically in October, Santander announced the merger of its Santander Consumer Finance (SCF) with Openbank, intending to create a single legal entity, operating under the Openbank brand. Both Openbank and SCF are part of Santander’s Digital Consumer Bank (DCB) worldwide business, with the move being directed toward optimising the company’s consumer finance operations in Europe.
