Alior to complete purchase of 2 banks in Q1 2016

Commercial lender Alior Bank, a unit of insurer PZU, is currently negotiating a takeover of a bank and is carrying out  due diligence of one another. The acquisitions, expected to be completed in Q1 2016, are to be covered from the issue of subordinated debt. "We are eyeing two small banks, which are not linked to PZU, and will likely have no impact on Alior's profits," said Wojciech Sobieraj, head of the lender. Witold Skrok, deputy CEO of Alior added that the value of assets of these two banks is similar to that of Meritum Bank, which Alior purchased in February 2015. Sobieraj also said that the lender started strategic cooperation with PZU in November.