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...

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...