Poland's biggest bank PKO BP reveals acquisition plans
PR dla Zagranicy
Nick Hodge
07.03.2013 12:42
PKO Bank Polski has announced “a new strategy” to take over branches of international banks operating in Poland.
foto:wikipedia/Public domain
PKO BP Rotunda, Warsaw: photo - wikipedia
“We want to carry out such acquisitions in Poland, but not at any price,” affirmed chairman of PKO BP Zbigniew Jagiello at a press conference in Warsaw, as cited by the Polish Press Agency (PAP).
At least four banks are understood to be in PKO BP's sights, chief among them Portuguese-owned Millenium Bank, as Jagiello had already betrayed a fortnight ago in an interview with the Rzeczpospolita daily.
“Buying a bank with a strong position in big cities, on the main streets with a portfolio of affluent clients would be justified from a business perspective. Millennium potentially meets these requirements,” he told the paper.
Three other concerns, Nordea Bank Polska, and the Polish wings of BNP Paribas and Credit Agricole are also tipped to be going up for sale in the near future.
At present, the the Polish State Treasury still owns a 31 percent direct stake in PKO BP, Poland's largest bank.
The institution was founded in 1919, just after Poland regained its independence following over a hundred years of partitions. (nh)