5th biggest bank created through Zachodni-WBK merger

The merger has been completed of Wielkopolski Bank Kredytowy (WBK) and Bank Zachodni. The new bank, which was formed on Wednesday, will operate under the name Bank Zachodni WBK. With assets in excess of zl.25 billion, it will be the fifth largest bank in Poland. It will have 437 branches and 527 cash dispensers. According to its president, Jacek Ksenia, Bank Zachodni WBK will replace WBK on the Warsaw Stock Exchange (WSE), with its debut to take place before the end of July. The largest shareholder in the new bank, with a 70.5 % stake, is Allied Irish Banks, the strategic investor in both WBK and Bank Zachodni. (Gazeta Wyborcza, p. 21) A.Z.