Locked content Bank Pekao Q2 net profit up at PLN 539.8 mln

Bank Pekao group Q2 net profit grew to PLN 539.8 million from PLN 535.1 million a year ago, above analysts’ forecast of PLN 536.2 million. Q2 net interest income stood at PLN 1.24 billion, close to the expectations. The interest margin increased in Q2 to 2.83 percent from 2.82 percent y/y. The...

Alior Bank and Bank Pekao call off merger

The management boards of Alior Bank and Bank Pekao have decided to end analyzes and negotiations regarding their possible merger. It was considered that, taking into account the current valuation of both companies, the analysis of profitability and feasibility, the more beneficial option from the sh...

Locked content Pekao on route to merge with Alior – Reuters

Bank Pekao will likely move forward on a merger with Alior Bank, according to two confidential sources cited by Reuters. In late February, Pekao’s CEO Michał Krupiński stated he believed that analysis for a possible merger with Alior Bank would be completed by the end of Q2. Reuters said that the me...

Locked content Pekao decides to pay dividend of PLN 7.9/shr

Bank Pekao shareholders decided to pay the dividend of PLN 7.9 per share for 2017 or PLN 2.07 billion in total, the bank said. The remaining net profit in the amount of PLN 14.6 million will be allocated to reserve capital. The record date is set for July 6, and the dividend will be paid…

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...

GTC with €200-mln Warsaw mall refinancing

Warsaw Stock Exchange-listed developer and investor GTC has secured up to €200 million in bank financing from Bank Pekao that it will use to refinance its Galeria Północna shopping center project in Warsaw. The company has previously obtained up to €116 million in bank financing from the same lender...

Locked content Pekao Q3 net profit grows

WSE-listed Bank Pekao, posted PLN 536.2 million attributable net profit in Q3 2017, up by 3 percent y/y, and above the consensus expectations for PLN 528 million. Revenue from interests inched up by 1.4 percent q/q to PLN 1.15 billion, while earnings from fees and commissions, contracted by 0.4 perc...

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 Pekao Q2 profit drops

WSE-listed Pekao, posted PLN 535.1 million attributable net profit in Q2 2017, down 22.5 percent y/y, but still above the consensus expectations for PLN 533 million. Revenue from interests inched up by 1.9 percent q/q to PLN 1.13 billion, while earnings from fees and commissions, increased by 1.5 pe...

Locked content Pekao plans no major acquisitions – acting CEO

According to Bank Pekao’s acting CEO, Michał Krupiński, the lender is not planning any major takeovers and is not interested in acquiring Raiffeisen Bank Polska, as it wants to focus on organic growth. “We are not in any talks regarding a merger with Alior or Raiffeisen takeover. We will be very foc...