Locked content Fitch downgrades Bank Pekao rating to BBB+, outlook stable

Fitch Ratings has downgraded Bank Pekao long-term rating IDR to ‘BBB+’ from ‘A-‘. The outlook is stable. Pekao’s Viability Rating (VR) was downgraded to ‘bbb+’ from ‘a-‘. The downgrade of IDR and VR reflects the decline of the bank’s Fitch ...

Locked content Bank Pekao will issue bonds worth PLN 750 mln

After completing the bookbuilding process, WSE-listed Bank Pekao decided to issue subordinated bonds of B and C series with a total nominal value of PLN 750 million – the bank said on Thursday. The issue date was set for October 15, 2018.   The total nominal value of the issued series B b...

Locked content Pekao launches first London office

WSE-listed Bank Pekao launched its first office in London to support Polish companies planning foreign expansion, the lender said in a market filing. “Poland is becoming an increasingly attractive market for private equity investors from London, and Polish corporations have international ambitions. ...

Pekao and Microsoft become strategic partners

Bank Pekao and Microsoft have signed a strategic partnership agreement at the 28th Economic Forum in Krynica. They will be work together on new digital products addressed mainly to small and medium companies.

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...