PKO BP seeks approval to take over savings & loan

The Kopernik Savings and Loan (SKOK) is on the PKO BP bank's radar. Poland's regulatory watchdog UOKiK will give their decision on the issue after a motion has been filed by the listed bank. Polish savings and loans have come under banking regulator KNF as of recently and some of the weaker branches are due to be sold. In August, a SKOK in Kęty had been purchased by Alior Bank. At the end of June 2014, Kopernik SKOK held PLN 353.9 million in assets, which was PLN 10.1 million less than assets held at the end of 2013. In H1 2014, the savings and loan generated a net profit of PLN 10.9 million with revenues of PLN 42.2 million, according to PAP.