Financial problems filled to the brim with bad loans in the banking system in Italy, led to the fact that the country’s largest bank is considering getting rid of their most valuable assets. One of them is the second bank in terms of assets in Poland, Pekao. Is that how the plan will be fulfilled PiS repolonizacji Polish banks?
As much as 18 percent. loans in the banking system in Italy is at risk of insolvency of the borrowers. This is the worst rate in European countries. The total value of bad loans to 360 billion, enough to sink the banking system and start a domino effect.
On Monday they announced a plan to merge Banco Popolare and Banca Popolare di Milano, which were up 25 percent. performing loans. After the merger, the new third bank in Italy, which starts … release 1800 employees and close 335 branches. It also has to sell problem loans in the amount of 8 billion euros, which is expected to reduce their share in the portfolio of the merged bank to 18 percent.
As the sound banks in the country, such as. Unicredit must be submitted to the rescue of the weaker … and they begin to look for sources of funding. Besides, have their financial problems.
UniCredit SpA, which recently announced weak results for the first quarter considering the sale of 15 per cent. shares FinecoBanku and review the assets in Poland and Turkey as an option to increase the equity – reported Bloomberg, citing unofficial sources “familiar with the matter.” Other options include the ability to change the President of UniCredit – reported the source.
“The Bank is considering selling packages in the Turkish Yapi ve Kredi Bankasi AS and Bank Pekao in Poland. not taken any decision, and the review may be affected by a possible change in the board” – reads the message of the agency.
Plan repolonizacji banks PiS can come true
tax Act and banking planned for currency translation of loans frankowych two blows on the part of policy makers in the Polish system banking. The first blow was passed quite easily to customers in the form of increased interest margin – just less banks began to pay depositors. The second blow – Law Franková – can be painful.
So probably Unicredit at all considering the sale of giving him so far stable and high profits (Pekao paid out annually 2-2,6 billion zł dividends) Polish bank. Italians have 50.1 percent. Pekao about the current value of 19.9 billion zł.
Such measures are not, however, has no Polish company. The most opulent PZU could indeed save about 13 billion zł, but with the amount of 1.2 billion zł have already been earmarked for the purchase of Bank BPH. PZU would therefore support the loans.
Unicredit accumulates capital
Bloomberg also reported, quoting unofficial sources, that investors want the resignation of the President of UniCredit Federico Ghizzoni’ego. Agency reminds that the President has repeatedly ruled out the sale of assets, which meant that UniCredit is currently one of the least capitalized banks in Europe.
In 2014. UniCredit acquired 673 million euros from the sale of 30 per cent. Fineco. Still holds 66 percent. shares and 15 per cent. package would be worth – according to current market valuations – approx. 600 million euros, also reported Bloomberg.
In December last year Ghizzoni said in an interview ISBnews that outside the bank in Ukraine UniCredit is not planning to sell other assets in the region of Central and Eastern Europe. He estimated then that the UniCredit capital invested in Poland brings good, the expected increase in business. He also stressed that the aim of the group is not maximizing dividends, but further development of the Bank Pekao.
UniCredit is one of the largest banking groups in Europe, operating in 50 countries worldwide, including nearly 20 in Europe. Currently it has more than 8 thousand. outlets and employs approx. 146 thousand. employees. UniCredit is listed on the Warsaw Stock Exchange since 2007. Group is a strategic investor of Bank Pekao since 1999.
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