Locked content PFR head: Pekao should consider supermerger with PKO

According to the president of the state-run Polish Development Fund (PFR) Paweł Borys, two of the largest state-run lenders Pekao and PKO should consider a merger in order to compete with rivals outside Poland amid expected consolidation in Europe’s banking sector. “There is an example of a merger b...

Locked content PZU hopes to increase its banking assets to PLN 300 bln

WSE-listed insurer PZU plans to increase the value of its banking assets to “at least” PLN 300 billion by 2020, thanks to organic growth, the company’s CFO Tomasz Kulik said. At end-Q3 its value amounted to PLN 236 billion. PZU controls two WSE-listed lenders Pekao and Alior. Asked what percentage o...

Locked content Alior to get PLN 94 mln in BPH purchase-related settlement

WSE-listed Alior Bank will get PLN 94.3 million from GE as part of the settlement agreement related to the purchase of BPH in late 2016, the bank said in a market filing. “The settlement relates to the acquisition of a part of BPH’s assets and certain other claims, costs, and payments related ...

Locked content Alior to launch online loan sales platform

WSE-listed Alior Bank will invest some PLN 30 million in launching a new digital loan sales platform Bancovo. The service will be launched in January/February next year. The project will open with a cash loan offer from banks and lending firms and by mid-2018 will introduce other products, including...

Locked content PZU to finish Alior-Pekao merger analysis soon

PZU hopes to end the analysis of the potential merger between Pekao and Alior Bank after the New Year, PZU CEO Paweł Surówka said. He added that the merger is not the only option considered. “We are analyzing, the work is on the side of the banks, we are calmly waiting for what will happen,… ...

Locked content KNF approves Alior’s PLN 1.2 bln bond program

WSE-listed lender Alior Bank secured the Financial Supervision Authority’s KNF approval for its PLN 1.2 billion bond issue program. The bonds will be issued within the 12 months after the approval. With tenors capped at 10 years. The bonds may be either ordinary or subordinated. The bank will seek t...

Locked content PZU doesn’t plan on buying more bank assets – CEO

WSE-listed insurer PZU doesn’t plan any new acquisitions in the banking sector, but might be tempted to acquire other assets across the group if the investment opportunity arises, the PZU representatives said. “I do not think PZU wants to buy a new bank, but if it is a question of whether a group of...

Locked content Alior Q2 profit up

WSE-listed Alior Bank posted a PLN 99.95 million attributable net profit in Q2, up from PLN 81.66 million last year. Net income from interests soared to PLN 719.37 million, up by 62 percent y/y, fees and commissions were up by 55.3 percent y/y at PLN 118.3 million. Alior’s  total assets stood at PLN...

Locked content Alior Bank sells PLN 250 mln bonds in private placement

WSE-listed lender Alior Bank has closed the book building process for its PLN 250 million private placement bond issue with demand exceeding PLN 400 million, the bank said in a market filing. The 3-year bonds will be unsecured with rates set at WIBOR6M plus 1.19 percent margin. The bonds will be iss...

Locked content BGK with a PLN 1 bln loan program for telecoms

State-owned lender BGK has launched a PLN 1 billion loan program targeting the development of high-speed internet infrastructure, signing the first agreement with state-controlled Alior Bank. “We assume that by the year 2023 we will spend PLN 1 billion for loans to telecommunications companies for t...