It has previously invested in Austrian lender Bawag, the old HSH Nordbank in Germany (now Hamburg Commercial Bank) and HSBC’s former French retail bank (recently renamed CCF). Now, on Thursday, US private equity company Cerberus Capital Management has completed the purchase of an 80.2% stake in a top-10 lender by assets in Poland – VeloBank, based on the good bits of the former Getin Noble Bank.
Getin Noble suffered from severe credit losses and litigation costs in Swiss franc mortgages.
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