October 30, 2019 / 10:00 AM / 16 days ago

Erste Group signals interest in Commerzbank's Polish mBank

FILE PHOTO: A logo of mBank, Poland's fourth-largest lender by assets, is pictured on the bank headquarters in Warsaw, Poland April 28, 2016. REUTERS/Kacper Pempel/File Photo

VIENNA (Reuters) - Erste Group (ERST.VI) could be interested in buying Commerzbank’s (CBKG.DE) Polish unit mBank (MBK.WA), but only without its Swiss franc portfolio, Erste’s deputy chief executive said on Wednesday.

“Poland is an important and growing market, all in all it is an interesting opportunity,” Bernhard Spalt said in a conference call, adding that he expected the sale to not include the Swiss franc portfolio.

Commerzbank wants to sell its nearly 70% stake in mBank as it needs the cash for its restructuring. Sources said that the formal sales process is about to start in coming months.

Reporting by Alexandra Schwarz-Goerlich, writing by Kirsti Knolle, editing by Tassilo Hummel

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