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The Warsaw Voice » Business » October 23, 2017
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Pekao to enlarge its structures
October 23, 2017   
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Large-cap bank Pekao, unit of insurer PZU, is reportedly preparing to include in its structures the brokerages CDM Pekao and Pekao IB, and possibly also DI Xelion, in a move which would allow Pekao to compete more effectively with its arch-rival the DM PKO BP brokerage, the daily Parkiet found out.
The three entities, together with DM Pekao, could even be consolidated into a single brokerage under the name of DM Pekao, integrating both the retail and institutional line of the bank's brokerage business, sources tell the daily. Should the consolidation take place, Pekao will benefit from cost synergies, the head of an unnamed brokerage tells Parkiet.
The potential risk lies in the fact that CDM Pekao is an established brand on the domestic market and its inclusion in the bank's structures may not necessarily be received neutrally, the daily's interlocutor adds. Changes in the organization of the Pekao brokerage business were initiated by the bank's new owners, the PZU insurer and the Polish Development Fund, Parkiet writes.
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