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The Warsaw Voice » Business » December 18, 2017
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Analysts on BZ WBK deal
December 18, 2017   
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Bank BZ WBK struck a good deal for purchase of Deutsche Bank assets in Poland at a low price, analysts claim in unison for the nation's daily papers.
Raiffeisen analyst Sobieslaw Kozlowski notes the gap in price to tangible book value of 1.9 at BZ WBK to 0.6 for the new assets with strong upshot for BZ WBK shareholders. He says the low yield on the new assets is easier overcome by the low price.
CitiBank Handlowy analyst Andrzej Powierza calls it a good deal by all measures for a market gain.
mBank analyst Michal Konarski and BOS brokerage analyst Michal Sobolewski also like the progress BZ WBK will make towards regulatory dividend requirements once its FX-mortgage book is diluted by the new assets.
Only Millennium bank analyst Marcin Materna offers any doubts, suggesting the asset is too small for such fuss.
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