Locked content Bank Pekao net profits in Q1 above expectations

The net profits of Bank Pekao, Poland’s second largest lender, beat experts’ expectations in the first quarter thanks to a rise in trading income, the lender informed on Tuesday. In Q1, the lender recorded PLN 624.42 million of net profits, compared with PLN 634.24 in the corresponding p...

Locked content Pekao to get rid of NPLs worth PLN 1.8 bln

Poland’s second-largest lender Bank Pekao, is going to sell PLN 1.8 billion worth of non-performing loans (NPLs), Dziennik Gazeta Prawna daily reported. The loans on sale are probably consumer credits. Pekao finished 2014 with PLN 8.2 billion worth of loans in arrears, equivalent to 6.8 percen...

Locked content Pekao may acquire Raiffeisen Polbank

Poland’s lender Pekao will consider acquisition of the Polish unit of Raiffeisen International, Raiffeisen Polbank, the firm’s CEO Luigi Lovagilio informed. “Our duty is to analyze every opportunity that appears on the market. If we are convinced that there is new quality to be cre...

Locked content Micro and small firms sentiment up in 2014

Business sentiment at micro and small-sized Polish companies improved significantly in relation to 2013, according to a report issued by the Pekao bank. The index measuring the sentiment reached 96.4 points, an increase by 3 points year-on-year. This is the highest score since the bank started its s...

Locked content Pekao takes over UniCredit CAIB Poland

Pekao purchased 100 percent of UniCredit CAIMB Poland’s shares from Bank Austria AG. The company will now change its name to Pekao Investment Banking. The bank’s portfolio will extend to new services such as merger and takeover strategic consulting, corporate finance, capital markets founding arrang...

Locked content Bank Pekao to take over SKOK Kopernik

Poland’s second biggest lender Bank Pekao was authorized by the Financial Supervision Authority (KNF) to take over credit union SKOK Kopernik, the watchdog said in a statement on Friday. Bank Pekao will assume responsibility for SKOK Kopernik as of December 8, the KNF said. The takeover will be comp...

Locked content Bank Pekao greenlit to take over SKOK Kopernika

Poland’s second-largest lender Bank Pekao was granted anti-monopoly approval for the takeover of credit union SKOK im. Mikołaja Kopernika (SKOK Kopernika), the Office for Competition and Consumer Protection (UOKiK) said on Monday. Earlier this year, UOKiK granted a similar permission to Poland’s big...

Locked content PIR to co-finance university dorms makeover in Kraków

State-owned investment vehicle Polskie Inwestycje Rozwojowe (PIR) has signed an agreement to co-finance the redevelopment of student dormitories belonging to the Jagiellonian University in Kraków, the company said in a press release on Monday. The project has a total value of PLN 100 million. It wil...

Locked content Bank Pekao profit higher than consensus

Poland’s second-biggest lender Bank Pekao recorded a consolidated net profit of PLN 704.4 million in the third quarter of 2014. Analysts polled by the Polish Press Agency had expected it to be pLN 676.1 million. The bank’s net interest income stood at PLN 1.13 billion in Q3. It was in line wit...