PBR wants strategic investor in first half of 1998

One potential investor is Germany's Bayerische Landesbank, but the name of the second bank has yet to be revealed. The selected strategic investor is expected to purchase its stake from PBR's current shareholders, including Powszechny Bank Kredytowy (PBK) with 32.9% and the State Treasury with 29.5%. PBR management is restructuring the bank by creating three divisions: investment banking, corporate banking and financial instruments trade. It is considering the possibility of creating a mutual funds division, but only after the new investor agrees to it. (Gazeta Wyborcza, page 25, Parkiet, page 2, Reuters)