PZU doesn't plan on buying more bank assets - CEO

WSE-listed insurer PZU doesn’t plan any new acquisitions in the banking sector, but might be tempted to acquire other assets across the group if the investment opportunity arises, the PZU representatives said. “I do not think PZU wants to buy a new bank, but if it is a question of whether a group of companies will buy a bank business or whether the new boards of both banks will want to go this route, I do not exclude it,” PZU CEO Paweł Surówka said, adding that Alior’s strategy takes into account the acquisition of assets. PZU insurer and state investment vehicle PFR bought Bank Pekao from UniCredit last year. Both entities acquired 32.8 percent stake in Poland’s second biggest bank for PLN 10.6 billion. Earlier in 2015, PZU acquired a 25.25 percent stake in Alior Bank for PLN 1.63 billion.