Klesyk: PZU may invest in cheap bank

Andrzej Klesyk, the CEO of PZU, said that in case the insurer was to get involved in Polish banking, it would be a capital investment in one cheap lender or in two financial institutions to be integrated with PZU. "If PZU was to invest in banks, it would have to be a capital investment only, which would consist in a purchase of an inexpensive entity or two compatible institutions (with similar offers, clients and IT systems)," Klesyk told Rzeczpospolita daily in an interview published on Wednesday. Last week, domestic media reported that PZU was interested in purchasing a large stake in Alior Bank and was observing the sale of Polish unit of Raiffeisen.