A consortium led by US investor Cerberus Capital Management, which includes the European Bank for Reconstruction and Development and the International Finance Corporation from the World Bank Group, acquired a 100% stake in VeloBank, the buyers said on August 1. VeloBank was a temporary institution created by Poland’s Bank Guarantee Fund, the state-owned guarantor of deposits in banks and credit unions, following the restructuring of the failed Getin Noble Bank to prevent its collapse due to inadequate funding. The Cerberus-led consortium paid PLN 375 million (€87.14 million) for the stake and …