BPH and GE Money Bank complete their merger
Bank BPH for the time being services deposits, SMEs, enterprises, as well as a developed IT platform to manage corporate clients. In turn, GE Money provides enormous know-how in terms of consumer finance, market and client database.
Both institutions plan to develop as a universal bank, which will be based on retail, corporate and treasury banking. The mid-term strategy through to 2011 envisages that it will have 14,000 corporate clients whose annual turnover ranges between zł.15-250 million, while the number of corporations with revenues above zł.250 million should exceed 1,200.
In 2011 the bank will operate 530 own outlets and 450 partner outlets. "We anticipate savings related to the merger will reach zł.282 million by 2011," said Dmitri Stockton, GE Money CEO for the CEE.
Sources: Puls Biznesu, Parkiet
Both institutions plan to develop as a universal bank, which will be based on retail, corporate and treasury banking. The mid-term strategy through to 2011 envisages that it will have 14,000 corporate clients whose annual turnover ranges between zł.15-250 million, while the number of corporations with revenues above zł.250 million should exceed 1,200.
In 2011 the bank will operate 530 own outlets and 450 partner outlets. "We anticipate savings related to the merger will reach zł.282 million by 2011," said Dmitri Stockton, GE Money CEO for the CEE.
Sources: Puls Biznesu, Parkiet
