PKO BP has green light for SKOK Wesoła credit union takeover

According to ISBnews, the Office of Competition and Consumer Protection has allowed the takeover of SKOK Wesoła credit union by PKO Bank Polski. According to the government watchdog, the transaction should not influence competition negatively. SKOK Wesoła operates since 1993 and has 70 branches in 12 voivodeships. The takeover bid is made through a competition conducted by the Financial Supervision Authority (KNF), in line with rescue plan approved by the European Commission. PKO BP's total assets amount to PLN 248.7 billion in 2014.