We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
SEARCH
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Business » December 11, 2017
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
Banking giants to merge?
December 11, 2017   
Article's tools:
Print

Pawel Borys
WSE-listed state-controlled banking giants PKO BP and Pekao are mulling a merger in 2018, the daily Parkiet writes of its own findings. The Pekao chair Michal Krupinski might become the CEO of the new bank, while the CEO of PKO BP Zbigniew Jagiello would stand at the helm of a supervisory board endowed with a wider range of competences, the daily claims.
The merger has already been discussed at a number of meetings, the daily writes. The potential merger would bring the Polish banking sector a step closer to an oligopoly and lower competitiveness on the financial services market due to the expected sector consolidation, Millennium DM's head of analysis Marcin Materna says. The strengthened position of the new bank would attract new investors, he adds.
The merger would be a desirable move from the perspective of Poland's position on the EU banking market, the Polish Development Fund chair Pawel Borys remarks.
On the flip side, the time-consuming nature of such a merger would have a short-term negative effect on the banks' business, DM Citi Handlowy analyst Andrzej Powierza observes. Also, both banks are efficient and cost synergies would be low, Powierza added.
Political issues and the consumer protection watchdog UOKiK could be obstacles to the potential merger's smooth progress, Parkiet concludes.
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE