Photo: Iza Procyk-Lewandowska / Onet
as reported by the Office of Competition and Consumer Protection , the application Alior Bank to take control of part of the property of BPH contributed to the Office on April 28.
the acquiring bank It belongs to a group of PZU, whose largest shareholder is the State Treasury. The second company is part of General Electric.
After the transaction BPH will continue to lead mortgage operations and managed funds investment.
As a result of the acquisition of part of BPH by Alior Bank, the merged bank will strengthen its position in the consolidating market. After the merger the assets reach the level of approx. 60 billion zł, which will put the company on the 9th place in the banking sector.
Alior Bank began operations in November 2008. The Bank made its debut on the Warsaw Stock Exchange in December 2012. The assets of the bank were worth 40 billion zł the end of 2015.
OCCP after the procedure found that the concentration does not lead to a restriction of competition. How justified in markets related to the lending and accepting deposits banks shares do not exceed the level of 20 percent. Concentration does not change significantly, therefore, the structure of these markets.
UOKiK also examined whether the transaction could lead to restrictions by PZU access to their products to banks operating in the market of bancassurance (insurance products sold by banks), other than Alior and BPH. As reported, the Office of the analysis did not reveal, however, such a threat. First of all, because the insurance in this case is usually in addition to banking products. When choosing a bank, customers primarily pay attention to the basic product (credit, deposit, etc.), And not complementary policy it.
in accordance with the provisions of the transaction is subject to notification to the antitrust authority if it involves enterprises whose total turnover in the preceding year exceeded EUR 1 billion globally or EUR 50 million in Poland.
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