Watchdog cautious about BZ WBK re-branding

The Polish Financial Supervision Authority has issued a statement asking lender BZ WBK for explanation regarding its planned re-branding as Santander, the Polish Press Agency (PAP) reports. The bank’s majority shareholder, Spanish lender Santander, was obliged to consult any changes in the name of brand with the KNF and to act in accordance with the bank’s best interest, the statement said. It has so far failed to turn to the financial watchdog. On Monday, BZ WBK’s chief executive Mateusz Morawiecki told PAP in an interview that the lender would start the re-branding process in 2015.