Analysts: Swedes eyeing Bank Ochrony Srodowiska
Analysts are now speculating that following the recently announced merger of
Sweden's dominant banks SEB and Swedbank, the newly created entity will seek
to increase its stake in Warsaw-based Bank Ochrony Srodowiska (BOS). "Poland
is the key market in the Baltic region, where the two Scandinavian banks
would like to expand business," said Tomasz Stadnik, investment consultant
for Credit Suisse Asset Management. Swedbank has already operated on the
Polish market, where it held 7% in Bank Handlowy (BH), later sold to
Citigroup. It is also active in the domestic insurance sector. SEB already
owns 38% in BOS. According to Stadnik, the Polish banking market doesn't
have much to offer, making it more likely that the Swedes would concentrate
on increasing their stake in BOS, rather than looking to acquire other
players on the market. BOS is an attractive partner, as it operates in
several market niches, including credit programs for Poland's fledgling
environmental protection undertakings. (Gazeta Wyborcza, p. 27; Puls
Biznesu, p.8) J.K.
