Idea Bank to sell GetBack

The board of managers at Idea Expert, a subsidiary of Idea Bank has decided to put  its debt collection arm GetBack up for sale, Rzeczpospolita daily reported. The company has not disclosed either the reasons for the decision or the amount it hopes to raise through the transaction. Puls Biznesu daily suggested that Leszek Czarnecki, who controls the group wants to sell GetBack to help raise funds to acquire Bank BPH from General Electric (GE). GetBack's net profits (PLN 54.4 million) recorded in the H1 accounted for over one third of the entire group's financial results (PLN 142 million).