Dresdner still pursues corporates; private clients uncertain
This news comes as the German bank seeks to allay speculation that it will completely exit the Polish market, owing to a poor financial footing.
"We have been very unhappy [with the rumors]," says Katarina Piro, a Dresdner spokeswoman, referring to unconfirmed reports in the press about the bank's future in Poland.
But while she said the bank is definitely remaining ensconced in the country's corporate sector - rumors or not - the exact future of other target sectors in not so certain.
Dresdner is "analyzing the strategic future options" for other businesses in the Central and Eastern European region, Piro says. Its banking operations also extend to the Czech Republic, Hungary and Croatia.
Piro explains, "We are in a phase of analyzing our platforms."
She did not say when the re-evaluation phase would end. But when asked why the company has quickly opted to keep its corporate and investment banking operations, rather than private-client operations, she only said it was an "internal strategic" decision.
In a prepared statement, she added that Central and Eastern Europe plays a "central role" for Dresdner as well as for its owner, Allianz Group. At present, the bank employs about 330 in the four countries and services 2,300 corporate and 1,600 private clients, in total comprising roughly zł.4.6 billion (€950 million) in assets.
Rumors surrounding Polish banking are nothing new these days. The beginning of the year marked the outset of a spate of rumors that Commerzbank-owned BRE Bank would be merging with HVB-owned BPH-PBK. And most recently, executives at Bank Pekao and BRE Bank were reportedly talking to each other about merging. But both scenarios were dismissed by the banks' officials.
In any event, analysts see many of the local banks' potential moves as necessary - whether into or out of the market - because, like the country's other developing sectors, the banking industry is too fragmented to be efficient.
"We have been very unhappy [with the rumors]," says Katarina Piro, a Dresdner spokeswoman, referring to unconfirmed reports in the press about the bank's future in Poland.
But while she said the bank is definitely remaining ensconced in the country's corporate sector - rumors or not - the exact future of other target sectors in not so certain.
Dresdner is "analyzing the strategic future options" for other businesses in the Central and Eastern European region, Piro says. Its banking operations also extend to the Czech Republic, Hungary and Croatia.
Piro explains, "We are in a phase of analyzing our platforms."
She did not say when the re-evaluation phase would end. But when asked why the company has quickly opted to keep its corporate and investment banking operations, rather than private-client operations, she only said it was an "internal strategic" decision.
In a prepared statement, she added that Central and Eastern Europe plays a "central role" for Dresdner as well as for its owner, Allianz Group. At present, the bank employs about 330 in the four countries and services 2,300 corporate and 1,600 private clients, in total comprising roughly zł.4.6 billion (€950 million) in assets.
Rumors surrounding Polish banking are nothing new these days. The beginning of the year marked the outset of a spate of rumors that Commerzbank-owned BRE Bank would be merging with HVB-owned BPH-PBK. And most recently, executives at Bank Pekao and BRE Bank were reportedly talking to each other about merging. But both scenarios were dismissed by the banks' officials.
In any event, analysts see many of the local banks' potential moves as necessary - whether into or out of the market - because, like the country's other developing sectors, the banking industry is too fragmented to be efficient.
