September 25, 2018 / 7:34 PM / in 7 months

Santander focused on organic growth in Poland, but takeovers possible

WARSAW, Sept 25 (Reuters) - Santander Chairman Ana Botin repeated bank’s long-standing stance towards the Polish market telling the Rzeczpospolita daily that the bank wants to grow organically in Poland, but does not rule out takeovers.

“If an opportunity to increase the scale thorough takeovers arises we consider it. But we have very rigorous criteria regarding such transactions,” Botin told the daily in a preview of the interview that is to be published on Wednesday.

She was referring to the fact that Santander recently bought part of Deutsche Bank’s operations in Poland, where banking market is quickly consolidating as smaller players are unable to compete in the super-low interest rates environment. (Reporting by Marcin Goclowski. Editing by Jane Merriman)

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