Locked content Pekao finalizes Pioneer takeover. Books PLN 400 mln profit

WSE-listed, state-owned Bank Pekao finalized the purchase of the remaining 51 percent stake in its asset manager Pioneer Pekao from Unicredit and will add PLN 400 million to this year’s consolidated net profit, the company said in a market filing. The €138 million transaction will reduce the lender’...

Locked content PKO BP denies merger plans with Pekao

WSE-listed, state-owned lender PKO BP denied media reports that it will merge with another state-owned, WSE-listed Pekao. “It is not true that PKO BP has participated in talks regarding the possibility of merging PKO BP with Pekao. PKO BP is not working on any projects regarding the suggested merger...

Locked content PZU to finish Alior-Pekao merger analysis soon

PZU hopes to end the analysis of the potential merger between Pekao and Alior Bank after the New Year, PZU CEO Paweł Surówka said. He added that the merger is not the only option considered. “We are analyzing, the work is on the side of the banks, we are calmly waiting for what will happen,… ...

Locked content UOKiK launches proceedings agains three banks

Consumer watchdog UOKiK has initiated proceedings against lenders BPH, PKO BP and Pekao in relation to the way the banks calculated spreads on mortgage loans denominated in foreign currencies, UOKiK stated. The consumer protection office is alleging that the banks used imprecise wording in their mor...

Locked content Pekao to tighten cooperation with PZU, Alior – CEO

According to the CEO of WSE-listed, state-owned Bank Pekao, the lender should increase its cooperation with its owned, WSE-listed insurer PZU, and another lender owned by PZU – Alior. “Our branches have a large potential for bancassurance, while PZU branches for assurbanking,” Michał Krupiński said,...

Locked content Pekao launches bookbuilding on PLN 1 bln bond issue

The management board of WSE-listed Bank Pekao approved the decision to launch a bookbuilding process for PLN 1 billion worth of 10-year bonds in non-public issuance. “The maximum total face value of the issue will be up to PLN 1 billion, the bond’s interest rate will be based on the WIBOR6M referenc...

Locked content Pekao with KNF approval for Pioneer Pekao PTE takeover

WSE-listed lender Pekao secured Financial Supervision Authority (KNF) approval to take over 7,266 shares in Pioneer Pekao PTE pension fund from Pioneer Global Asset Management, KNF said in a market filing. This is the first hurdle to clear a bigger, €140 million deal for Pekao to purchase 51 percent...
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...