Cerberus Capital Management, an American global alternative investment firm, agreed to acquire VeloBank, a universal bank, from Bankowy Fundusz Gwarancyjny, the Polish bank guarantee fund, for PLN1.1bn. "The end crowns the work. The sale of VeloBank will complete the resolution of Getin Noble Bank – one of the most complex processes of this type in the European Union. Two years ago, we had a major problem in the Polish banking sector as a bank from the top ten largest entities in the country was at risk of a bankruptcy. Now we have a healthy, modern VeloBank, which gains dynamic owners," Piotr Tomaszewski, Bankowy Fundusz Gwarancyjny President of the Management Board.