Locked content Pekao, Alior will decide about merger by end of Q2

Negotiations about merger or cooperation of Pekao and Alior should finish by the end of Q2. “We would like to take the decision as soon as possible, no later than by the end of Q2,” Pekao CEO Michał Krupiński said. Pekao and Alior announced they were considering cooperation or a merger in October 20...

Locked content Alior 2017 profit down

WSE-listed Alior Bank posted a PLN 515.24 million net profit in 2017, down from PLN 575.23 million last year. Net income from interests grew to PLN 2.84 billion, up from PLN 1.94 billion in 2016, while fees and commissions amounted to PLN 453 million, up from PLN 331.13 million the previous year. Al...

Locked content Alior launches Bankovo platform

WSE-listed lender Alior launched its digital financial services platform Bankovo, the company said in a market filing. At launch, Bankovo will have products from four partners, InBank, Alior Bank, TakTo Finanse, and SuperGrosz, with 3 additional loan providers and 2 banks being added soon. Ultimatel...

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...