DZP supports Getin Noble Bank in consolidating private banking sector

Our Capital Markets and Financial Institutions Practice has advised Getin Noble Bank on the purchase of an organised part of the enterprise of DZ Bank Polska specialising in handling high net worth individuals. The agreement concerned private banking clients with assets of approx. PLN 200 million. The transaction also covered, e.g. regularly paid bank loans (in PLN) and also private banking client deposits and current accounts.

The purchase of part of DZ Bank Polska will greatly strengthen GNB's position on the private banking market, as it has taken over not only the whole of the private bank with around a thousand clients but also the entire team handling these clients.

The transaction was carried out on the same lines as GNB's acquisition of DnB Nord's retail arm – http://en.dzp.pl/deals-corner/deals-corner-archive/1314-getin-noble-bank-to-buy-the-retail-and-sme-banking-business-from-dnb-nord, on which DZP also advised.

Getin Noble Bank is becoming an active player on the acquisitions market. The bank announced recently that it had acquired the retail section of DnB Nord and also 100% of shares in Dexia Kommunalkredit Bank.

The advice to the client was provided by experts in DZP's Capital Markets and Financial Institutions Practice: Andrzej Foltyn, Practice Head, Magdalena Skowrońska and Piotr Jackowski.