BCP confirms interest in Deutsche Bank in Poland

  • ECO News
  • 10 July 2017

No decision has yet been made and BCP is, for now, assessing the operation with Santander and Commerzbank, the two other interested banks.

The CEO of Millenium BCP Nuno Amado has confirmed this Monday that the Polish Millennium is assessing the possibility of moving forward with a proposal to acquire Deutsche Bank’s assets in Poland. The Portuguese bank’s interest in the Polish DB deal had been disclosed last week by the Polish newspaper Puls Biznesu.

“The terms of the analysis and the possible proposal are, obviously limited to a set of criteria which are being analysed at the moment”, the banker stated. According to Nuno Amado, “there is no decision nor commitment, other than the commitment of analyzing the operation with two other banks” who are also studying the opportunity. Those banks who are also assessing the purchase are Santander and Commerzbank.

For sale are the deposits and credit portfolios in zlotys (the local currency) and the investment and corporate banking business, whose assets could be valued at 500 million euros.

Nuno Amado, BCP’s CEO, emphasized to the Portuguese news agency Lusa that “only in clearly favorable conditions would Millenium Poland make a final proposal”. The analysis is being made by the Polish bank,  held 50.1% by BCP; Nuno Amado says he does not know “what the final result will be”.