BPH PBK to fully consolidate their brokerage houses

As a result of the merger between Bank Przemyslowo Handlowy (BPH) and Powsze chny Bank Kredytowy (PBK) the management of BPH and PBK have approved a merg er plan between their stock brokerage offices BPH from Krakow and PBK from W arsaw. The departments of analysis and those responsible for asset managemen t will also be consolidated. "Everything is at an advanced stage, but it is too early to give any further details," said Anna Odowska, a spokesperson fr om Brokerage Office BPH PBK. According to stock exchange statistics of 2001 the share of the new brokerage office will be around 11% of the bonds market , 8% of terminal contracts and 4.4% of the shares market. "We are changing f rom being a subsidiary of PBK to become a fully integrated part of the new b ank. The merger of the banks will probably be completed in the third quarter of this year," said Odowska. According to unofficial information the merger of the newly created brokerage office of BPH PBK with the brokerage house of CAIB Securities, will start this year." Currently we are not holding any tal ks with representatives of CAIB Securities," added Odowska. (Gazeta Wyborcza , p. 23) P.W.