Getin looks East as regulator blocks takeovers

The company is currently prepares a new share issue. "I cannot reveal the details concerning the issue. Its amount will depend on the result of our talks in the East," stated Getin Holding president Piotr Stepniak. Getin spent last year on building a group in Poland and since the development of the company has been successful it renewed its interest in the Russian market. Getin already owns a leasing company called Carcade in Russia. "We are in negotiations over the acquisition of a bank in Russia and we are analyzing opportunities in Ukraine. If the transactions are concluded it is possible that part of the management of the bank will come from Carcade," revealed Stepniak. He added that his company was not afraid to invest in a small bank and to develop it. Getin Holding is still interested in investments in TU Europa insurance company and TU Europa na Zycie life insurance company although the Insurance and Pension Funds Supervisory Commission (KNUiFE) refused to give its consent for Getin to takeover these companies. (Puls Biznesu, pp. 1, 9) E.B.