PZU will keep Alior and Pekao as separate companies

Polish lender PZU, which owns Alior bank and is to acquire a majority stake in another Polish lender Pekao will not be merging them into one entity, PZU’s CEO Michał Krupiński said. “The synergy costs would be higher than its effects,” he explained PZU also isn't planning any significant changes to Pekao’s operations. “We think that it’s a very good bank, the biggest in financing Polish companies and with many individual clients. It’s being managed very well and we don’t plan to change its strategy,” Krupiński explained.