Published: December 20, 2012
The move is part of the Polish bank’s attempts to diversify its ownership structure.
The European Bank for Reconstruction and Development (EBRD) has picked up an 8.83% stake in Poland’s Alior Bank during a recent IPO. The development bank purchased 5,614,035 shares for 320mn zloty (US$104mn).
Sylvia Gansser-Potts, EBRD director for EU banks, said of the deal: “As the largest private offering on the Warsaw Stock Exchange, this is a landmark transaction for the Polish capital markets, transferring the ownership of Alior Bank from a single private shareholder to a broad and dispersed group of institutional shareholders. The EBRD’s investment will also support Alior Bank’s use of innovation in its operations, capturing new market niches and setting itself apart from competitors.”
Alior is the fastest-growing bank in Poland. Although only established in 2008, it already has the country’s third-largest distribution network. It is also ahead of the national curb in terms of its online and mobile banking offerings.
The EBRD has to date invested the equivalent of US$7.6bn in Poland.