Locked content PZU CEO: Pekao and Alior cooperation analysis should be known soon

Talks on the cooperation between Bank Pekao and Alior Bank are still ongoing and PZU hopes that it will know the results of this analysis soon. The insurer excludes scenarios that would benefit a single bank from the group at the expense of the other, said PZU CEO Paweł Surówka. “At this point, the ...

Locked content Pekao Q4 profit soars

WSE-listed Bank Pekao, posted PLN 1.05 billion attributable net profit in Q4 2017, up by an impressive 113 percent y/y, and above the consensus expectations for PLN 964 million. Revenue from interests increased by 7 percent y/y to PLN 1.19 billion, while earnings from fees and commissions, grew by 0...

Locked content Pekao joins BLIK mobile payment system

WSE-listed lender Pekao has implemented the mobile payments system BLIK to its mobile application, becoming the last remaining big lender to do so. Now, as many as 96 percent of mobile banking applications users will have the ability to pay with BLIK. The system was launched by the Polish Payments S...

Locked content PFR head: Pekao should consider supermerger with PKO

According to the president of the state-run Polish Development Fund (PFR) Paweł Borys, two of the largest state-run lenders Pekao and PKO should consider a merger in order to compete with rivals outside Poland amid expected consolidation in Europe’s banking sector. “There is an example of a merger b...

Locked content PZU hopes to increase its banking assets to PLN 300 bln

WSE-listed insurer PZU plans to increase the value of its banking assets to “at least” PLN 300 billion by 2020, thanks to organic growth, the company’s CFO Tomasz Kulik said. At end-Q3 its value amounted to PLN 236 billion. PZU controls two WSE-listed lenders Pekao and Alior. Asked what percentage o...

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...