Bank BPH PBK to withdraw from insurer Royal PBK?

Today will see the announcement of further capital changes in insurance company Royal PBK. This will certainly mark yet another step in the direction of the withdrawal of bank BPH PBK's investments from the insurance company. The venture will in turn facilitate full realisation of the over two-year-old agreement signed between Ergo Hestia and PBK. The fact remains that since 2002, BPH PBK has failed to increase the capital of Royal PBK, and the bank's holding in the insurer has dropped from 40% to 22%, the majority shareholder being Royal & SunAlliance. The main reason for the bank's dissatisfaction over cooperation with Royal PBK was poor financial results, which became cumbersome for the bank. In 2000, PBK signed an agreement with Hestia, the fulfilment of which met a stumbling block in the form of a merger between banks PBK and BPH. Its finalisation and the imminent withdrawal from Royal PBK will allow the cooperation between Hestia and the bank to flourish. (Puls Biznesu, p. 6) A.C.