Locked content New president of PZU TFI from April 1

 Marcin Adamczyk will become president of PZU TFI from April 1 this year it was announced today. Additionally, Cezary Iwanski will be appointed to the board as of February 15, the company reported. Marcin Adamczyk is an expert in the area of ​​investment, and has spent most of his career abroad in L...

Locked content PZU will keep Alior and Pekao as separate companies

Polish lender PZU, which owns Alior bank and is to acquire a majority stake in another Polish lender Pekao will not be merging them into one entity, PZU’s CEO Michał Krupiński said. “The synergy costs would be higher than its effects,” he explained PZU also isn’t planning any significant chang...

Alior negotiations to buy Raiffeisen Bank Polska collapse

Polish lender Alior, owned by PZU has ended talks with Raiffeisen and will not be buying its Polish unit. Alior has had exclusive bargaining rights for the assets since late September. Talks concerned the core banking operations. “As for the termination of talks with Raiffeisen, we decided tha...

PZU and PFR to buy 32.8% stake in Bank Pekao

Polish insurer PZU and Polish Development Fund PFR will buy 32.8 percent of Bank Pekao shares from its owner, Italian UniCredit for PLN 10.6 billion. The remaining UniCredit stake in the second biggest Polish lender (7.3 percent) will be sold on the market via equity-linked certificates.

Locked content Morawiecki announces shuffling of PZU, Grupa Azoty

Minister of Finance and Development, Mateusz Morawiecki, stated that Poland’s largest chemical company, as well as its largest public insurer, will move from the Treasury to be placed under the supervision of the Ministry of Development, the Polish press reported on Friday morning. The minister also...

Locked content PZU purchase of Pekao expected soon

The plan by Poland’s largest public insurer, PZU, to buy a large percentage of shares in Pekao Bank should be known within two weeks, according to a Polish press source. “Due diligence continues, there is a chance that it will end this week. (However) it is likely that we still need a week or two...

Locked content PZU to acquire Pioneer

Poland’s larger insurance firm PZU may become the biggest insurer on the Polish market after it takes over Pioneer Pekao Investments, according to a report released on Monday by Rzeczpospolita. The acquisition could increase the amount of assets under its management to PLN 67 billion. The move...

Banking on banks

WBJ Observer spoke with Michał Krupiński, CEO of PZU, Poland’s biggest insurer, about its plans to repolonize foreign banks and the current economic climate

KGHM likely to be put under Ministry of Energy

Following the liquidation of the Ministry of State Treasury, supervision of Polish copper mining giant KGHM Polska Miedź is likely to be transferred to the Ministry of Energy, while insurance company PZU will probably go to the Ministry of Development, the Head of the Standing Committee of the Counc...

FinMin: No rivals interested in Pekao takeover

“The Polish government favors a purchase of UniCredit’s Polish lender Bank Pekao by domestic insurer PZU, but the price must be fair,” Finance Minister Paweł Szałamacha announced during the Ambrosetti Forum on August 3.