Poland’s PKO BP outdoes Deutsche Bank in stock market value: analyst
PR dla Zagranicy
Grzegorz Siwicki
07.06.2019 12:30
Poland’s largest bank, PKO BP, on Thursday surpassed German giant Deutsche Bank in terms of stock market value, a news agency has reported, citing an analyst.
Image by Gerd Altmann from Pixabay
"The largest Polish bank PKO BP has just outperformed the German giant Deutsche Bank in terms of stock market value,” Tomasz Wyłuda, Director of the Investment Advisory Bureau at Credit Agricole Bank Polska, said in a Twitter post on Thursday, as cited by state news agency PAP.
He added: “Today PKO BP is growing at a rate of around 5 percent, while Deutsche Bank is not coping with its new regulatory environment."
The news agency cited Wyłuda as saying in a comment that figures showed investors viewed PKO BP as more valuable than Deutsche Bank.
“PKO BP has greater growth potential, which means generating profit for investors,” Wyłuda said, as quoted by PAP.
He added that PKO BP saw its stock market value grow on Thursday while the capitalisation of Deutsche Bank fell that day, “as a result of which PKO BP moved ahead of Deutsche Bank in terms of market capitalisation.”
Wyłuda told the PAP news agency that each bank was worth around PLN 52 billion (EUR 12 billion, USD 13.7 billion) during trading on Thursday, but then at one point PKO BP outperformed Deutsche Bank in terms of value.
Wyłuda told PAP that just a few years ago the capitalisation of Deutsche Bank was some 20 times that of PKO BP.
“The last few years have been quite lean for the German bank, while being quite good for PKO BP,” he said.
State-run PKO BP, which in February celebrated 100 years in existence, has 10 million clients and is the largest bank in both Poland and throughout Central and Eastern Europe, public broadcaster Polish Radio has reported.
The bank was established on February 7, 1919, less than three months after Poland recovered its sovereignty in the aftermath of World War I.
(gs/pk)
Source: PAP