Banco Santander is evaluating the different alternatives available with respect to its majority participation in its Polish subsidiary, which is consolidated in its accounts but quotes independently and has other minority investors.
Options exploration by Banco Santander
According to the ‘Bloomberg’ agency, the bank is analyzing various options, including the possibility of selling its majority participation in the subsidiary. At present, Banco Santander has about 62.2% of this participation.
Possible decisions of Banco Santander
So far, Banco Santander has not made a definitive decision and could choose to maintain the entire current participation or sell only part of it. Internal Bank sources consulted by Europa Press declined to comment on.
Previous sale and destination of the funds generated
Last September, The financial group carried out the sale of 5.2% of its participation in Santander Polska for approximately 2,463 million zloty (575 million euros). At that time, Santander reported that he intended to reinvest the capital obtained from the sale in opportunities for organic growth and/or shares of shares.
Statements by senior executives
During the General Meeting of Shareholders held last week, the Bank CEO, Héctor Grisi, said that the financial institution is focused on assigning capital to those opportunities that generate greater value for their shareholders.
«We have the capacity, without buying or selling anything, of assigning capital where we see better expectations (…). If we observe that a country will have less growth or the perspectives are not favorable for various reasons, we can increase our presence in other places. The same applies to different business segments, «said Banco Santander, Ana Botín, during the Board.