HSBC applies for banking license to enter retail sector

Poles may soon be able to take loans from one of the world's biggest banks - HSBC. The British company has applied to the National Bank of Poland (NBP) for a banking license, but it seems that they would rather buy an existing Polish bank, as the company wants to become an important player on the retail market. "We always have either a small outlet offering specialized niche services, or we become one of the top three biggest banks. We are never ranked tenth," an HSBC representative told Rzeczpospolita. The company has already started head-hunting and plans to employ 100 people. According to Grzegorz Zawada, from Erste Securities Polska, there are only two banks, Millenium and BZ WBK, which might be up for sale. However, HSBC might also consider taking part in the privatization of PKO BP, which would suit it perfectly. (Rzeczpospolita, p. B7) M.M.