Pekao and BRE Bank's management consider merger

Neither of the two companies' representatives, however, wanted to comment on the news. The idea of merger is not new as it had been previously considered when UniCredito Italiano (UI), Pekao's main shareholder, and Commerzbank, BRE's owner, were discussing such a move between themselves. UI President Carlo Salvatori recently announced that the bank is ready to continue its expansion in Eastern and Central Europe, and if an opportunity arises, following mergers should be expected. If the merger goes through, the two banks would jointly form the largest financial institution on the domestic market with assets of over zł.90 billion. (Parkiet, p. 1) A.K.