Banco Santander considering options for stake in Polish unit - report

(Sharecast News) - Spanish banking group Banco Santander is reportedly weighing up options for its majority stake in its Polish division, according to Bloomberg on Tuesday. The news outlet, citing people familiar with the matter, said the bank has consulted an adviser to review its 62% holding in Warsaw-listed Santander Bank Polska, which made up around 6% of its total revenue last year.

The parent group is said to have reached out to potential investors, according to the report, though it is open to holding on to its investment or opting for a partial sale.

Back in September, Banco Santander sold a 5.2% shareholding in Santander Bank Polska, raising PLN2.46bn ($627m).

The remaining stake, worth around €7.7bn at current prices, follows a 13% jump in the stock so far this year, which includes Tuesday's near-7% gain to PLN520.80 by the end of play in Warsaw.

In Madrid, Banco Santander's shares were trading 5.6% higher at €5.54.