The decision to further bolster its presence follows the acquisition of Bank Zachodni WBK for PLN15.9bn ($4.9bn) and Belgium-based bank KBC Group in 2011 and 2012, respectively.
Banco Santander chief executive officer Mateusz Morawiecki was quoted by the Wall Street Journal as saying that the bank will concentrate on restructuring and efficiency savings over the next 18 months, before acquiring other businesses.
"We want to grow and in the longer term become one of the top two banks in Poland," Morawiecki added.
" Thus in order to meet our goal we will be again interested in takeovers in the longer term."
Due to sluggish economic growth, the polish banking sector is passing through a consolidation phase, which will continue as many banks have been put for sale by their owners.
It is expected that one or two transactions may be complete in the next 12-18 months.
