Alior and Meritum with merger plan

The managements boards of Alior Bank and Meritum Bank signed a plan for their merger, which will be carried out without increasing the initial capital. The final decision about the merger will be made by the Polish financial market watchdog KNF and by the shareholders of the lenders, the ISBnews agency reported citing a press release. All of the assets and liabilities of Meritum will be transfered to Alior, the release informed. "As a consequence of the merger, Alior Bank will take over all the rights and responsibilities of Meritum, and Meritum will be dissolved, without conducting a liquidation procedure..." the press release also read. The new lender will be named Alior Bank Spółka Akcyjna. In February, Alior Bank completed an acquisition of 97.9 percent of Meritum's shares, valued at PLN 352.54 million.