According to Polish daily Puls Biznesu, Raiffeisen International and KBC Group have pulled out of the bidding process for Bank BPH-200. Among rumoured 4 institutions remaining in the race for the Bank BPH-200 assets are: Santander Group, BNP Paribas, General Electric and Credit Mutuel (all had begun due diligence research into Bank BPH-200 assets in order to propose a final offer).
Our view: Raiffeisen International and KBC Group were two bidders with biggest exposure in Poland, while the rest of the institutions are only present at the consumer finance market (Santander Group, BNP Paribas, GE Capital) or have no presence at all (Credit Mutuel). We maintain our opinion that Bank BPH-200 assets may prove particularly attractive to ambitious players that currently have no or hardly any presence in Poland. The news can weigh on the stock price today as the list of institutions remains in bidding process is shrinking, which may have a negative impact on the Bank BPH assets.