Bank BPH enjoys interest from potential buyers

Bank BPH CEO Richard Gaskin wrote in a letter to shareholders that the bank enjoys a lot of interest from potential buyers. "We observe a lot of interest in the bank . . . we hope that GE will agree on a transaction with an appropriate bidder," the letter read. Last week Reczpospolita reported that a PZU unit, Alior bank will take over BPH's assets excluding the franc-denominated mortgage loans portfolio. According to Reuters, GE's 87 percent stake in Bank BPH has a market value of PLN 2.2 billion. The bank's assets are worth roughly PLN 32 billion, or 2 percent of the sector's total.