BWE seeking domestic sector investor, turning its eyes toward PKO BP

Bank Wspolpracy Europejskiej (BWE), currently seeking a sector investor, says it prefers for a partner another domestic bank not controlled by a foreign investor. Thus the most desirable choice would be the biggest Polish retail bank PKO BP. BWE authorities say the potential investor might in the future take 100% control of the bank. Another option is an exchange of stakes between the two banks. In this case PKO BP would take a controlling stake in BWE and the latter would receive a few percent of shares in PKO BP. BWE is now introducing a new centralized information-system worth between zl.1.7 million - zl.2 million and "is planning to offer the Treasury Ministry electronic services, unless it secures a sector investor with a well developed retail branch," said BWE chairman Henryk Pyrka. BWE is looking to invest in small and medium size companies and would enter foreign trade account settlement. Before the end of 2001 it will launch an investment fund and a company named Polski Inwestor intended to support small and medium entrepreneurs. (Puls Biznesu, p. 7) J. K.