PKO BP not in for Polbank or BPH
PR dla Zagranicy
Jo Harper
23.06.2015 15:27
State-owned PKO Bank Polski will not be buying Raiffeisen Polbank or Bank BPH.
PKO BP HQ in Warsaw. Photo: Wikipedia
Poland's largest bank had reportedly been eyeing the two banking sales with some interest.
"In 2015 we closed the purchase of Nordea Bank and we are in the so-called post-acquisition phase,” PKO BP CEO Zbigniew Jagiełło told ISBnews.tv. “This means that first we want to show the synergies resulting from this acquisition.”
PKO BP is the country’s largest bank by assets and deposits. It has been talking about major international expansion.
Austrian bank Raiffeisen Bank International announced in December 2014 it plans to sell Raiffeisen Polbank, Poland's eighth largest lender by assets. Raiffeisen Polbank recorded a net profit of PLN 172 million in the first nine months of 2014.
Meanwhile Chinese investment house Fosun International is reportedly interested in buying a minority stake in Raiffeisen Polbank.
Poland’s largest insurer PZU has also said it is monitoring the sale of Raiffeisen Polbank and BPH.
Meanwhile, Leszek Czarnecki, a Polish billionaire, is reportedly keen on acquiring Bank BPH.
General Electric Company, is looking to sell its 87.3% stake in Bank BPH, which has a USD 891 million market cap.
Polbank has EUR 3.25bn in assets. (jh)