Private equity firm,AnaCap Financial Partners LLP (AnaCap) has announced the acquisition of FM Bank PBP, retail and SME bank in Poland, subject to regulatory approval.
Under the terms of the agreement, funds advised by AnaCap will acquire 100% of FM Bank for an undisclosed sum. The acquisition is set to become AnaCap’s fourth portfolio company in the banking sector, joining Aldermore, Equa Bank in the Czech Republic and Mediterranean Bank plc in Malta.
George Koulouris, managing director at AnaCap,comments on the agreement: “We are delighted to have signed an agreement to acquire what is an established and scalable platform within one of the strongest banking markets in the EU in terms of resilience, profitability and growth potential. FM Bank has achieved significant success in recent years, and we look forward to the opportunity to accelerate the growth of the business, with a particular emphasis on the micro/SME and consumer sectors, leveraging a cutting-edge mobile banking platform.”
FM Bank PBP was created in 2013 as a product of merger between Polski Bank Przedsiębiorczości SA and FM Bank SA and today operates under two brands, Bank SMART for mobile banking services and BIZ Bank for micro SMEs and corporates.