PKO BP-Pekao merger ‘worth considering at conceptual level’ – PFR head

A potential merger of WSE-listed, state-run banks Pekao and PKO BP is “worth considering at least at the conceptual level,” said President of state-run Polish Development Fund PFR Paweł Borys. He added, however, that if a merger of Pekao with another state-run bank Alior would happen first, then such concept should be abandoned. “I think that it is at least conceptually worth to consider such scenario. The analysis should be mainly on Pekao's side – if it wants to merge with Alior, then a deal with PKO BP should be off the books. Or maybe we should analyze other scenarios,” Borys said in an interview with TOK FM radio. He stressed, however, that even if the two of the biggest Polish banks decide to merge, it would still be a relatively small lender on a European scale.