Erste Gets Polish Regulator’s Nod for €7 Billion Santander Deal

Poland’s financial regulator approved Erste Group Bank AG’s purchase of a controlling stake in Banco Santander SA’s Polish unit, removing the last major hurdle for one of the biggest bank deals in Europe for years.

The transaction will solidify Erste’s position as the largest lender in the European Union’s east. It also offers the bank a foothold in one of Europe’s most profitable and competitive markets.