In response to customer expectations and in line with their sustainable development strategy, VeloBank is expanding its investment product portfolio. Just two months after successfully acquiring an investor, the capitalised bank signed a contract to acquire a majority stake in an investment fund company. The transaction is contingent, among other things, on obtaining the consent of the Financial Supervision Authority (KNF).
The bank and its owners aim to support the development of the Polish economy and the Polish capital market. The acquisition of 86.83% of shares in Noble Funds TFI S.A. is proof of the consistent realisation of their ambitions for further growth.
“We are expanding our portfolio with many customer groups in mind. Access to a variety of financial instruments is another testament to our understanding of their needs, and at the same time, a natural direction for the development of a strong and stable capital group,” said Adam Marciniak, President of the Management Board of VeloBank.
The transaction is beneficial for the clients of both companies. For VeloBank, it expands their product offer, while for TFI clients it provides access to modern banking services.
“When I spoke about our obvious growth directions in August this year, I had TFI in mind among other things. I am confident that the new offer will attract investors looking for growth and asset diversification. It is also important to us that in the new structures, company employees will be able to develop and create further solutions, facilitating both everyday life and future thinking for clients,” added Marciniak.
Formally, the transaction will be finalised once the suspensive conditions have been met, including the approval by the KNF. The bank will then carry out a rebranding and smoothly incorporate the new entity into the structure of its Capital Group. The signing of the contract does not affect the current operation of the TFI, either from the perspective of clients or employees.
Source: https://managerplus.pl/velobank-nabyl-wiekszosciowy-pakiet-noble-funds-tfi-92775
