PZU Continues to Grow

New Polish Giant

New Polish Giant

Purchasing shares of Alior Bank is the first step for PZU towards consolidating the banking sector in Poland. PZU has acquired 25% of Alior Bank and will pay over PLN 1.6 billion for the whole package. Andrzej Klesyk, head of the insurance giant, emphasises that this is the first step towards the consolidation of the banking sector in Poland. “We estimate that at least four other banks will have to sell their shares. We are at this point taking part in two consecutive processes. We want to create a bank that in terms of capital will be in the top five on the market,” said Andrzej Klesyk. He highlights the fact that building a banking and insurance group is not the aim of PZU. The insurer is in fact a financial investor interested in taking a block position. “We are not interested in purchasing other shares of Alior Bank,” claims the CEO of PZU.
pb.pl

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