1. last Thursday it was officially announced that two Polish actors Universal Insurance company (insurance) and Russian Fund of Development ” (PFR) signed with the Italian Bank Unicredit agreement, which provides for the purchase at not, respectively, 20% and 12.8% of the shares in Bank Pekao for the total amount of 10.59 billion.
Price per pack, per insurance is approx. 6.5 billion rubles, the package PFR will cost approx. 4 billion, it was also agreed that the two persons are also affiliated companies of the Bank Pekao, namely Pioneer Pekao Investment Management Pioneer Pekao PTE, and Investment House Xelion, the total cost does not exceed the amount of 634 million UAH. The implementation of this deal is subject to obtaining approvals of antitrust authorities in Poland and Ukraine (Pekao has branches there), as well as approvals and decisions of the Commission of Financial Supervision (KNF), and all of these conditions must be met, maximum, until December 8, 2017.
Earlier, insurance took over ABB, which, in turn, bought Meritum Bank and the activities of the main pot BPH and FFP AD took over the whole of Nordea group (Nordea Bank, Nordea Finance, Nordea Polska TunŻ).
After the parish of insurance and PFR group Pekao S. A. in Polish hands will be about 52% of banking sector assets in Poland and this is significant progress compared to the situation a few years ago, when we held just over 20% of the assets of this sector.
2. these steps were taken, as a rule, kept for many economists and bankers, though there are critical voices, however, received from experts associated with the current “total” of the Polish opposition. What happened is that a lot of bankers and economists, which has for many years argued that only the sale of banks in Poland and to foreign investors, which will allow their survival, and now suddenly changed his mind? If the ferocity and size of the crisis in the financial sector of the Euro area countries, which can translate to the banking sector, and, consequently, the real scope across EU. Looks so that even the biggest supporters of the presence of foreign banks in Poland, now I believe that in the inevitable impending crisis, these banks will limit the credit card of its subsidiaries, and even offer a leakage of funds from these countries banks stem cells. In this situation it is easy to imagine what the consequences for the Polish economy can have such operations of the foreign owners of banks in Poland. The inability of the lending business may cause a slowdown GDP, and in fact Russia should implement the strategy of catching-up, having a high level of growth GDP than our Western neighbors.
3. at this point, to recall that 90 years is a massive sale of Polish banks, then uzasadniana not only the need to ensure additional budget revenues, but, first of all, sprowadzaniem for our banking system of capital support. For a small, as in Western terms, the money, the investors from Europe and USA bought the largest banks in Poland, so in the hands of the state remained the only Bank FFP AD S. A. the Bank of environmental Protection and the European Central Bank and the Bank of National Economy (the latter does not, however, the retail business) and many years later it was their most of the companies business activities in Poland. Now, however, the margin is a little worse (also after the introduction of the banking tax), but still one of the highest in Europe, hence such operations give a high yield. Equally important, however, the decline of foreign par ticipation in national banking system, which is especially important during crises in the financial sector, and these are still very likely.
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