Locked content PFR will consider selling its Bank Pekao stake in 3-5 years

The Polish Development Fund (PFR) will consider selling its stake in Bank Pekao in three to five years, PRF CEO Paweł Borys told the Polish Press Agency (PAP) “Selling the entire 12.8 percent stake via the stock exchange and keeping a control stake at PZU, with the rest being in free-float, is a goo...

Locked content US-insurer with 5% stake in Pekao Bank

US insurance company Massachusetts Mutual Life has increased its stake in Bank Pekao to 5.35 percent making it the third biggest shareholder of the bank. The market filing did not specify how many stocks and when, the Massachusetts Mutual Life acquired, as listed companies in Poland are required to ...

Locked content Bank Pekao with better than expected Q4 results

WSE-listed Bank Pekao edged out consensus expectations with a PLN 494.7 million net profit, down by 5 percent q/q. The analysts expected a PLN 479 million. For the whole 2016, the company posted a PLN 2.28 billion profit (0.6 percent down y/y), which according to the bank’s CEO, Luigi Lovaglio...

Locked content Bank Pekao maintains high rating – Moody’s

Investment and bond rating agency Moody’s confirmed on Monday that Poland’s Bank Pekao would maintain its “A2” rating, according to a report in the Polish press. The rating, according to the analysis, is indicative of a stable view of the złoty at domestic level. “Maintaining the rating reflects the...

PZU and PFR to buy 32.8% stake in Bank Pekao

Polish insurer PZU and Polish Development Fund PFR will buy 32.8 percent of Bank Pekao shares from its owner, Italian UniCredit for PLN 10.6 billion. The remaining UniCredit stake in the second biggest Polish lender (7.3 percent) will be sold on the market via equity-linked certificates.

Bank Pekao lowers GDP growth forecast for Poland

Due to weaker investment performance, Bank Pekao has lowered its PKB forecast for 2016 to 2.7 percent from 3.1 percent. However, it has not changed its prognosis for 2017, which remains at 3.3 percent, based on an expectation of an upturn in investment next year.

Locked content Pekao sold mortgage bonds worth PLN 50 mln

Pekao Bank Hipoteczny, a mortgage unit of large-cap bank Pekao, has sold mortgage-backed covered LZ-II-14 series bonds worth PLN 50 million in total, the bank informed on Friday. The issue was made in the framework of its PLN 2 billion bonds program. In July, Pekao Bank Hipoteczny had its PLN 1.3 bi...

FinMin: No rivals interested in Pekao takeover

“The Polish government favors a purchase of UniCredit’s Polish lender Bank Pekao by domestic insurer PZU, but the price must be fair,” Finance Minister Paweł Szałamacha announced during the Ambrosetti Forum on August 3.

Locked content Morawiecki: PZU not negotiating with UniCredit on Pekao takeover

Poland is not conducting any negotiations with Italy’s biggest bank UniCredit regarding acquisition of its Polish unit, and any potential deal must be done on market terms, Deputy Prime Minister Mateusz Morawiecki proclaimed. On Tuesday, Reuters, citing two sources, informed that PZU CEO Micha...