Getin Noble Bank S.A. (WSE:GNB) agreed to acquire Idea Bank S.A. (WSE:IDA) in a reverse merger transaction on January 17, 2019. Pursuant to the terms, Getin Noble Bank's shareholders will receive 0.185 new shares of Idea Bank for each share held. The transaction is structured as an all stock deal. Post-completion, the surviving entity will operate under the name Getin Noble Bank. Upon Completion, both Getin Noble Bank and Idea Bank intend to consolidate headquarters. The merger will take place after receiving all permits and permits required by law, including approval by the Polish Financial Supervisory Authority. The merger resolution is also subject to approval from shareholders in a shareholder meeting and approval of amendments to the Idea Bank statutes. The supervisory Boards of Getin Noble Bank and Idea Bank have approved the transaction which has been agreed upon by management boards. As of June 3, 2019, the transaction was not permitted by the Polish Financial Supervisory Authority. As of June 17, 2019, the Polish banking regulator has refused to consider the transaction due to huge losses posted by Idea Bank. The transaction is expected to complete in third quarter of 2019.

Getin Noble Bank S.A. (WSE:GNB) cancelled the acquisition of Idea Bank S.A. (WSE:IDA) in a reverse merger transaction on January 17, 2020.