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The Warsaw Voice » Business » May 14, 2008
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New Bank Given Green Light
May 14, 2008 By A.R.    
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Italy-based Carlo Tassara Group financial group has been given the all-clear by the Polish Financial Supervision Authority (KNF) to set up a new bank in Poland.

The group's Alior Bank is the largest investment of this kind in Europe in 30 years and one of Poland's largest foreign direct investment projects. Alior will be one of Poland's 10 largest banks in terms of size and equity.

A team of experienced bankers began laying the groundwork for Alior to start operations here in September 2007. This team has now expanded to more than 270. The managerial staff is all but ready and recruitment is under way for banking advisers, IT specialists and back office staff. "The bank will be employing 800 people once the first branches are opened," says Carlo Tassara International Chairwoman Helene Zaleski. Staff numbers are expected to 1,000 by the end of 2008 and to 3,500 within three years.

Carlo Tassara will be applying to the KNF for an operating license for Alior now that it has the go-ahead to set up the bank, which it hopes to have operating during the second half of the year. Alior is planning to open 80 branches in Poland's 50 largest cities. These will be concentrated in 10 regions. The bank is also planning to open eight business centers. Alior Bank is aiming for a 2-4 percent market share and a customer base of around one million within three years. The bank's long-term aim is to open 200 branches and over 400 agencies.

Alior Bank will be a universal bank offering retail and corporate services in all market segments. The bank is getting ready to offer what it says will be competitive and innovative products from day one. These will be available online and through its branches.

Alior has equity capital of zl.1.5 billion. The bank will be managed by a four-member management board chaired by Wojciech Sobieraj.
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