PKO will take over SKOK Wesoła

Poland's largest lender by assets, PKO PB has a green light to acquire SKOK Wesoła credit union, based in Mysłowice (Silesia), the financial watchdog KNF announced in a press statement. As of April 30, the troubled SKOK had some 63,000 members who held about PLN 624.6 million in client deposits and was PLN 282.8 million short to cover its liabilities. As many as 70 branches of the credit union have been operating in 12 voivodeships. PKO BP will take over the credit union on August 1. Last year, the lender was authorized by the watchdog to take over a SKOK in Ornotowice (Silesia).