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...

Locked content PZU CEO in talks with UniCredit on buying Pekao – Reuters

Michał Krupiński, the CEO of Poland’s biggest insurer, PZU, is flying to Milan for talks on buying Poland’s second-largest bank, Bank Pekao SA, from its owner, the Italian bank UniCredit, Reuters informed, citing two sources familiar with the matter. A Reuters’ source close to the ...

Locked content KNF to view Pekao SA as systemically important

The Committee of Financial Supervision  (KNF) decided to submit a motion to the Financial Stability Committee to express an opinion in the matter of recognizing the lender Pekao SA  as an systemically important institution, the bank reported. As a systemic institution, Pekao would have a buffer impo...

Locked content PKO BP will not acquire Bank Pekao

Poland’s largest state-controlled lender PKO Bank Polski is not going to take over commercial lender Bank Pekao, a unit of Italian UniCredit, PKO CEO confirmed. “I deny that we are taking over Pekao SA,” PKO Chief Executive Officer Zbigniew Jagiello said on Thursday. However, Jagiello di...