Erste's Cash Deal for Santander Bank Polksa Seen as Positive -- Market Talk

Dow Jones

May 06, 2025

0613 GMT - Erste Group Bank's takeover of a 49% stake in Santander Bank Polska is financed better than expected as the cash-based consideration avoids a rights issue, Keefe, Bruyette & Woods say in a research note. The Austrian bank and the Spanish lender reached a 7 billion-euro deal, which also includes half of asset manager Santander TFI. "The implied price to [tangible book value]...is slightly higher than the average of previous deals, but this is a rare opportunity to enter the largest banking sector in CEE with double-digit market shares," analysts Ben Maher and Hugo Cruz write. The earnings per share accretion and return on tangible equity seem attractive but the 11% return on investment isn't particularly high, they say. This could be forgiven given the deal's long-term strategic appeal, according to the analysts. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

May 06, 2025 02:13 ET (06:13 GMT)

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The Austrian bank and the Spanish lender reached a 7 billion-euro deal, which also includes half of asset manager Santander TFI. \"The implied price to [tangible book value]...is slightly higher than the average of previous deals, but this is a rare opportunity to enter the largest banking sector in CEE with double-digit market shares,\" analysts Ben Maher and Hugo Cruz write. The earnings per share accretion and return on tangible equity seem attractive but the 11% return on investment isn't particularly high, they say. This could be forgiven given the deal's long-term strategic appeal, according to the analysts. 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The Austrian bank and the Spanish lender reached a 7 billion-euro deal, which also includes half of asset manager Santander TFI. \"The implied price to [tangible book value]...is slightly higher than the average of previous deals, but this is a rare opportunity to enter the largest banking sector in CEE with double-digit market shares,\" analysts Ben Maher and Hugo Cruz write. The earnings per share accretion and return on tangible equity seem attractive but the 11% return on investment isn't particularly high, they say. This could be forgiven given the deal's long-term strategic appeal, according to the analysts. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 06, 2025 02:13 ET (06:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EBKDY","symbol_name":"Erste Group Bank AG","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2533954029","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2533954029","pubTimestamp":1746511980,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0613 GMT - Erste Group Bank's takeover of a 49% stake in Santander Bank Polska is financed better than expected as the cash-based consideration avoids a rights issue, Keefe, Bruyette & Woods say in a research note. The Austrian bank and the Spanish lender reached a 7 billion-euro deal, which also includes half of asset manager Santander TFI. \"The implied price to [tangible book value]...is slightly higher than the average of previous deals, but this is a rare opportunity to enter the largest banking sector in CEE with double-digit market shares,\" analysts Ben Maher and Hugo Cruz write. The earnings per share accretion and return on tangible equity seem attractive but the 11% return on investment isn't particularly high, they say. This could be forgiven given the deal's long-term strategic appeal, according to the analysts. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EBKDY":"Erste Group Bank AG","SAN":"桑坦德银行","BK4521":"英国银行股","BK4207":"综合性银行"},"translate_title":"Erste与桑坦德银行Polksa的现金交易被视为积极——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EBKDY":0.9,"SAN":0.9},"content_text":"0613 GMT - Erste Group Bank's takeover of a 49% stake in Santander Bank Polska is financed better than expected as the cash-based consideration avoids a rights issue, Keefe, Bruyette & Woods say in a research note. The Austrian bank and the Spanish lender reached a 7 billion-euro deal, which also includes half of asset manager Santander TFI. \"The implied price to [tangible book value]...is slightly higher than the average of previous deals, but this is a rare opportunity to enter the largest banking sector in CEE with double-digit market shares,\" analysts Ben Maher and Hugo Cruz write. The earnings per share accretion and return on tangible equity seem attractive but the 11% return on investment isn't particularly high, they say. This could be forgiven given the deal's long-term strategic appeal, according to the analysts. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 06, 2025 02:13 ET (06:13 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}