BPH not selling fund management firm

Bank BPH has withdrawn from selling its fund management unit, BPH TFI, the lender said in a statement on Wednesday. Neither of the offers presented by potential buyers has proved satisfactory from the point of view of BPH, the bank said. “In making the decision, macroeconomic and regulatory conditions were taken into account, as were changes on the investment fund market and BPH TFI’s development perspectives for the coming years,” the statement read. Last November, financial watchdog KNF objected to the takeover of BPH TFI by market peer Investors Holding. Bank BPH later said it would consider offers for the subsidiary by other bidders.