Alior BankImage : Vivenge

PZU denies plans to merge Alior with Pekao

State-owned insurer PZU denied media reports that it will merge its banking units Pekao and Alior. “It’s pure media speculation,” PZU CEO Paweł Surówka, told the Polish Press Agency (PAP). PZU will instead seek revenue and cost synergies among the two lenders

Locked content Pekao appoints Michał Krupiński as CEO

State-owned lender Pekao named former PZU head Michał Krupiński as its new CEO. His appointment needs to be approved by the Financial Supervision Authority (KNF). Krupiński replaces long-time Pekao boss Luigi Lovaglio who was dismissed, along with him, Deputy CEOs Diego Biondo and Stefano Santini re...

Locked content PZU and PFR finalize Pekao takeover

State-owned insurer and state investment vehicle PFR finalized the takeover of Pekao from UniCredit. Both entities acquired 32.8 percent stake in Poland’s second biggest bank for PLN 10.6 billion in a deal signed in December last year. “This is a historic moment. By completing the acquisition of Ban...

Locked content PZU, PFR to finalize Pekao purchase on June 7

WSE-listed insurer PZU and state-owned development fund PFR will finalize the purchase of a 32.8 percent stake in WSE-listed bank Pekao from Italy’s UniCredit on June 7, PZU said in a market filing. Back in 2016, Polish insurer PZU and Polish Development Fund PFR agreed to buy 32.8 percent of ...

Locked content PZU plans no new banking acquisitions

Poland’s largest insurer PZU is not planning any new acquisitions in the banking sector, however its banking units might be, company’s CEO Paweł Surówka said in an interview with the Polish Press Agency (PAP). “At this stage of our development, we have satisfied our appetite for acquisitions i...

Locked content PZU, PFR with KNF approval for Pekao takeover

Financial market watchdog KNF has approved the purchase of Pekao by PZU and PFR, which clears the last obstacle to finalize the transaction. The buyers want to finalize the deal in early June, just in time to qualify for the banks’ dividend, set at PLN 8.58 per share. Back in 2016, Polish insurer PZ...

Locked content PZU-Pekao takeover deal approved by Ukrainian authorities

Polish insurer PZU along with Polish Development Fund (PFR) received consent of the Antimonopoly Committee of Ukraine to takeover the majority shares in bank Pekao. “The granting of the above-mentioned consent means that one of the conditions precedent for the acquisition of a significant block of s...

Locked content M&A transactions fall by half y/y in Q3

The number of M&A transactions reached 33 in Q3 compared to 66 contracts a year earlier, according to Alicja Kukla-Kowalska of Fordata. After the first three quarters of 2016, a total of 132 transactions took place, compared to 177 in 2015. “The fact that, compared to the years 2013-2014, the Po...

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...

Locked content State Treasury backs takeover of Pekao

Treasury Minister Dawid Jackiewicz said Poland should increase its engagement in the banking sector and use the “unique possibility” to take over Unicredit’s unit Pekao SA. Earlier, Finance Minister Paweł Szałamacha said state-owned insurer should acquire the lender at a “fai...