BZ WBK to be a player in the consolidated bank sector

Allied Irish Bank (AIB) owned Bank BZ WBK yesterday said it expects to parti cipate in a wave of sector consolidation over the coming years, emerging as one of five big banks set to dominate the market. According to AIB President Gerry Byrne, mergers were likely to happen between the large players but the Irish bank, which holds a 70.5% stake in BZ WBK, would want to keep a contro lling stake in any new entity. Mergers or acquisitions were also unlikely to happen this year, he said, as strategic investors in large banks seem keen t o hold on to their stakes. BZ WBK is the seventh largest bank by assets, ran king behind Pekao, state-owned PKO BP and Citibank's Bank Handlowy. (Parkiet , p. 4; Reuters) J.K.