GE mulls sale of Bank BPH

US giant Geneneral Electric Company (GE) is analyzing the possible sale of shares in its Polish banking unit, Bank BPH, the lender said in a statement on Wednesday. GE has already hired advisors for the process and notified the Polish Financial Supervision Authority (KNF), Bank BPH said. The US holding controls the Polish lender through GE Investments Poland (83.74 percent in Bank BPH), Selective American Financial Enterprise (3.21 percent) and DRB Holdings B.V. (2.21 percent). In response to GE’s notification, the KNF has said that in its view, the consolidation level on the Polish banking market is optimal. The US firm should look for a buyer outside Poland, the watchdog’s head Andrzej Jakubiak was quoted as saying by the Polish Press Agency.