Rethink your privatization strategy on PKO BP says NIK

The Supreme Board of Inspection (NIK) has announced that although restructuring of the largest state-owned bank PKO BP was successful, the bank is still unprepared for privatization. NIK says that the government should analyze the bank's privatization strategy once again, and describe its role in the Polish banking system. The report claimed that it has not been specified how privatization would strengthen the bank's organizational and financial structure, or improve its financial liquidity and profitability. NIK says the Treasury Ministry should consult the assumption underlying privatization with the bank itself. However, the government has not come up with any changes yet, and Treasury Minister Wieslaw Kaczmarek does not intend to list PKO BP's shares on the stock exchange this year. (Rzeczpospolita, p. B1) A.Z.