AIB on the bank buying bandwagon

Allied Irish Banks (AIB) which owns BZ WBK is planning to take over another bank. Rumors are circulating that it is interested in ING Bank Śląski or Bank Millennium, however, their strategic investors say that the banks are not for sale. At the same time, AIB does not expect a quick recovery of the domestic market as it is, in the opinion of AIB's general director Michael Buckley, it is, "Negatively affected by the poor situation in Germany." The Irish bank does not expect any economic upturn within 12-18 months following the EU entry referendum. AIB claims that the biggest threat to the market is currently asset quality. Buckley praised BZ WBK assets as relatively good, and pointed out that its loan portfolio has not increased much, "As its loan policy is conservative." he said. (Puls Biznesu, p. 6) A.Z.