Spanish bank considers taking over GBG from BPH PBK
Rzeczpospolita has unofficially learned that Spanish Banco Santander Central
Hispano (BSCH) and Austrian Reiffeisen have been shortlisted as investors to
take over Gornoslaski Bank Gospodarczy (GBG). On Monday the paper ran a
story declaring that BSCH was looking to buy Bank of America (Polska). The
biggest shareholder in GBG is BPH PBK which owns 68.8% of the shares. BPH
PBK is currently consolidating its capital group. Jozef Wancer, president of
BPH PBK said that a decision about a possible sale of its BGB shares will be
made by the end of the year, while Aleksandra Kwiatkowska, Reiffeisen Bank
Polska spokeswoman refused to comment on the possible deal. GBG is a
regional bank which has 44 branches, with a stronghold in Upper Silesia. Its
equity, at the end of September, stood at zl. 174.4 million, with a balance
sheet total of zl. 3.2 billion and a net profit of zl. 29.6 million at the
end of the third quarter. (Rzeczpospolita, p. A1) P.W.
