Austrian bank Raiffeisen has finalized its €490 million takeover of Polbank, previously the Polish arm of Greek lender EFG Eurobank Ergasias. Polbank will take the name Raiffeisen Polbank and Polbank as an independent brand will become history.

For Raiffeisen, this takeover represents a golden opportunity to develop its presence on the Polish market. Indeed, with a combined 900,000 customers and 450 branches, the merged entity will become the sixth-largest Polish lender, according to wyborcza.pl.

Poland A.M.