Polish banks face more consolidation in 2017 - KNF

Polish banking sector will likely continue the consolidation process in 2017. “The process of consolidation and takeovers in 2017 will probably advance and it will probably follow from conditions at their parent banks, albeit not so much tough financial conditions as changes in strategy,” the deputy chief of the Financial Market Authority (KNF), Filip Świtała, told the Polish Press Agency (PAP). “Several investors would be potentially interested in strengthening their position on the Polish market and there are also investors who would be willing to limit their role,” Świtała said without revealing any details. According to Świtała, sector investors are preferred, especially for the larger banks, but KNF is not biased against any investors. “What matters is whether a given investor guarantees stable and prudent management,” he said. while admitting the inevitability of a coming consolidation trend, reiterates some of Poland's long-standing key themes for its progress.