Shareholders have little reason to rejoice Pekao-BPH merger
Despite the fact that Pekao's merger with BPH led to an increase in its Q2 net profit by 54 percent as compared to the same period a year earlier, the profit per share has decreased. Therefore, shareholders in the financial institution have no reason to be satisfied with the results.
The fact that the merger has not brought about positive effects of scale is proved by the fact that Pekao, as well as mini-BPH, have both earned 8 percent less in Q2 this year than in the same quarter of 2007.
In its latest report Pekao did not reveal these results for the previous year. Pekao representatives, however declare that the coming years will show a significant improvement in results, which is to be achieved, among others by limiting employment.
Source: Parkiet (A.K.)
The fact that the merger has not brought about positive effects of scale is proved by the fact that Pekao, as well as mini-BPH, have both earned 8 percent less in Q2 this year than in the same quarter of 2007.
In its latest report Pekao did not reveal these results for the previous year. Pekao representatives, however declare that the coming years will show a significant improvement in results, which is to be achieved, among others by limiting employment.
Source: Parkiet (A.K.)
