WARSAW Feb 20 Polish financal regulator KNF
will not rule on French lender BNP Paribas's proposed
$1.4 billion takeover of Rabobank BGZ before August,
the watchdog's deputy head was quoted as saying on Thursday.
BNP agreed last year to buy the Dutch lender Rabobank's
Polish business, the eastern European country's
eleventh-largest bank by assets, as it returned to the
acquisition trail after a period of restructuring.
But the deal needs approval from KNF, which has previously
signalled its scepticism about further consolidation in the
Polish banking sector and said it would take a close look at the
KNF's Wojciech Kwasniak told local daily Puls Biznesu that
the deal was "complex" and that the decision process coincides
with the asset quality review and banking stress tests taking
place throughout Europe.
"According to assumptions, the asset review will end in July
and stress tests will start at the turn of August and September,
with their results to be known in October," Kwasniak said. "For
our opinion (on the BNP deal), we need at least the information
about the asset review results."
(Reporting by Adrian Krajewski; Editing by David Goodman)