KNB puts BPH-Pekao merger in the slow lane

The bank is sti ll developing its network of outlets and is taking on new employees. The Ban king Supervisory Commission (KNB) announced that its take over by bank Pekao will not receive a go ahead earlier than within five months. The president o f BPH Józef Wancer refused to comment on the merger with Pekao, only saying that no decisions have been made so far. "Due to this, the institution is no t changing its strategy taking into account the merger with Pekao. There is also no plan to cooperate," said Katarzyna Niezgoda, deputy president of BPH . By the end of 2006 the number of the bank's outlets will increase by 77, w hile so far in 2005 the institution opened 17 new branches. "It is hard to e xpect that the bank will stop developing while waiting for the merger. Howev er, the merger must be taken into account, but the bank is not saying that," said Marcin Materna from DM Millennium. (Parkiet, p. 3) M.M.