The acquisition within the BGZ group BNP Paribas – Republic

Source: ROL

BGZ BNP Paribas, fulfilling a commitment to the Polish Financial Supervision Authority takes over Sygma Bank Poland for 200 million zł.

BGZ BNP Paribas acquires Sygma Bank BGZ BNP Paribas for 200 million zł will buy all the shares of Sygma Bank Poland, having 1 million active customers and a loan portfolio of 1.4 billion zł.

Bank BGZ merged and BNP Paribas will carry out the commitment of the transaction to the Financial Supervision Commission, made when connecting, and buy Sygma Bank Poland (SBP). The seller is Sygma Banque, an entity whose sole owner is the French group BNP Paribas (indirectly through BNP Paribas Personal Finance and LaSer Group).

The SBP is a domestic bank that will be created by the transformation of the Polish branch of Sygma Banque (to SBP is the contribution in kind of all assets of the Polish branch of Sygma Banque).

Sygma Banque in Poland operates on the consumer credit market and specializes in actively supporting retail chains through financial and non-financial services designed for their customers ( in particular credit cards, installment loans and cash loans). It has more than 1 million active clients and loan portfolio worth 1.4 billion zł.

The condition for the acquisition of SBP include registration of the company in the National Court and obtaining permits and decisions of the Financial Supervision Authority. Registration of SBP in the register of entrepreneurs KRS is planned in the near future. The Bank’s continued existence and strategy of the Polish branch of Sygma Banque. The Board BGZ BNP Paribas expects that the acquisition will expand the PLA owned by BNP Paribas BGZ product offer on the Polish market for consumer finance products, which will have a positive impact on the bank’s income, with only a slightly negative impact on the level of capital ratios.

At the same time BGZ BNP Paribas signed an agreement to acquire the company Sygma Banque Laser Services Poland for 11 million zł, providing services consisting of organizing and providing loans and consumer loans as well as performing other activities related to banking activity.