5:11 1 May 2025
Pekao rules out Santander bid
Bank Pekao CEO Cezary Stypułkowski stated there are currently no agreements within the PZU Group regarding a potential offer for shares in Santander Bank Polska. He emphasized the bank’s focus is on defining its operational and capital strategy within the PZU Group before considering any acquisitions.
“With the structural changes underway in PZU, we must first establish our operating framework,” said Stypułkowski. “Given the scale of Santander and its ongoing talks with Erste Group, the likelihood of Pekao entering the process is currently low.”
He did not rule out future interest but confirmed no discussions are taking place within the group.
Stypułkowski added that Pekao, rooted in the local market, has an advantage in building customer relationships. Earlier this week, Banco Santander confirmed preliminary talks with Erste over a potential sale of a 49% stake in Santander BP. Banco Santander holds a 62.2% stake in the bank.
