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The Warsaw Voice » Business » February 2, 2018
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Bankers' salaries safe
February 2, 2018   
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Listed bank Pekao's top management will see their salaries untouched by the state companies salary cap act as the lender's shareholder, state insurance giant PZU, claims its 20% share gives it no control over the bank in the light of anti-trust and consumer protection law, the daily Puls Biznesu writes.
PZU will be able to trim the salaries of Pekao's top brass only after the insurer has confirmed its controlling status in relation to the lender, for example by having its will at several consecutive GMs, legal analysis commissioned by PZU show.
PZU followed this path in the case of Alior Bank, in which it holds a 30% stake. Alior Bank's management salaries had already been trimmed.
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