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...

Locked content Bank Pekao net profits down in Q1 y/y

Commercial lender Bank Pekao recorded a consolidated net profit of PLN 573.4 million in Q1 2016, compared with PLN 624.4 million in the same period of the previous year, the lender informed in a report. The bank’s net interest income totaled PLN 1.07  billion in Q1 2016, compared with PLN 1.04...

Locked content Bank Pekao wants to sell PLN 1 billion worth of loans each month

Bank Pekao wants to give out PLN 1 billion  in consumer loans each month in 2016, CEO Luigi Lovaglio announced on Tuesday. He admitted that this decision is somewhat surprising given the projected slowdown in growth of this sector, but the bank expects that it will overcome this. Pekao estimates tha...

Locked content Bank Pekao net profits down in Q4 y/y

Commercial lender Bank Pekao recorded a consolidated net profit of PLN 438.4 million in Q4 2015, compared with PLN 691 million in the same period of the previous year, the lender informed in a report. The bank’s net interest income totaled PLN 1.06  billion in Q4 2015, compared with PLN 1.05 b...