Treasury Ministry to reshuffle supervisory board of PKO BP

Treasury Minister Dawid Jackiewicz said that he has called an extraordinary general meeting to reshuffle the supervisory board line-up of state-controlled lender PKO BP. "It's hard to comment on day-to-day decisions of the management, but we think that PKO BP's way of communicating with the market leaves much to be desired," Jackiewicz said. "We will draw conclusions: I have motioned for an EGM to take place shortly at which we will exchange the supervisory board line-up to make it more sensitive to the management's decisions," he stated. Asked whether they will be changes in management, the minister said that it is up to the supervisory board. "It's their job to assess how the management is being run," he said. "If they reach [that] conclusion, they have the right to make changes in the management." PKO BP has recently increased its service fees, a move which was speculated to be linked with a new banking tax. The lender denied such allegations.