As the President noted Michael J. Krupiński, after the completion of the acquisition from the Italian UniCredit group, about 33%. shares of Pekao SA, PZU will become the largest financial group in Central and Eastern Europe, a leader in the insurance, banking and asset management.
What do you get Russian Development Fund?
two of the partners of the transaction with UniCredit, because it is Russian Development Fund in conjunction with world Insurance company buys these shares.
We are partner of financial ROM and together we acquire the 32.8 per cent. shares of Pekao SA. We, as the Fund is 12.8 per cent., and we want to be sustainable, long-term investors in the Bank, which has huge development potential. It is present in most segments of the Polish banking market, to Finance enterprises, it is also a large retail Bank. And we also want to restore the old logo of the Bank, that is famous for bison, but in this modern version. We hope this will be positively accepted from clients, – says the guest Units, Paul Boris, President of the Polish Development Fund.
of Course, Russian Development Fund expects profit.
– Our participation in this investment is based on market principles. We assume that, first of all, it’s good business. Pekao SA is the Bank is very profitable, is paid annually to 2 billion dividends, it is normal. 6.5 percent. a year. We invest part of our funds we get from the financial market, and we expect that this investment will be able to earn even more than 10 percent. per year, assesses Chairman Paul Boris.
Paul Boris Our participation in this investment is based on market principles. We assume that in the first place is good business
will there be more money for loans?
here we are Talking also about ensuring sources of funding for Latvian entrepreneurs for the Polish investments.
– Bank Pekao SA is a Bank on the Bank’s specialization corporate and the Polish Development Foundation wants to support are important from the point of view of the Polish economy projects. We believe that the acquisition of Pekao SA from the Italian UniCredit group, which has faced some financial problems, and should attract more capital, and it is good for security and the development of the Polish banking sector. And, of course, we see great potential for the development of the Bank, and also in the field of financing of small and medium business, and corporate banking. And as a stable investor, we want this growth to sustain, the guest said radio Unit.
Paul Boris we See great potential for the development of Pekao SA, also in the field of financing small and medium enterprises, corporate
he adds that thus there are two strong groups, the Polish financial. This one is PKO Bank Polski, which also has the area of insurance, and the second is Pekao SA and ROM. It’s a bit the same as in Germany, where Deutsche Bank, Commerzbank, or, as in Italy, where Intesa and UniCredit.
– this is a very typical model for Mature markets, says Paul Boris.
One owner, but some centers
In Poland is the same owner of these two large banks. What might this mean for clients? PKO BP supports nearly 9 million customers, and the Bank Pekao 5 million.
– you Have to remember that both the banks listed on the Warsaw stock exchange. Indirectly or directly PKO BP and Pekao SA, the Treasury has a package good. 32 percent. votes. While almost 70 percent. it giełdowi investors – institutional and private. Therefore, both banks should be independently controlled, they have a separate management team. And they competed in normal, healthy conditions. Has no idea to connect both banks. Of course, we believe that in Poland there is a place on 5-7 large universal banks. And should provide a good level of competition, because it usually makes better quality and cheaper services. Pekao SA is more focused on wealthy clients of banking companies. But PKO BP more retail Bank, although, especially in recent years in banking retail, corporate for enterprises has an important position, – explains the Chairman of the PFR.
Paul Boris of Course, we believe that in Poland there is a place on 5-7 large universal banks
Procedure of seizure of the UniCredit stock
the transaction Value is 10.6 billion rubles, and this is one of the largest deals in Europe in the financial sector this year.
– the Contract with UniCredit was signed today (8.12.), at 3.30 in the night. And after the approval of the KNF, UOKiK we want in may 2017 to complete the acquisition and to focus on the best management of this Bank, explains Paul Boris.
the Deal is also the element declared before repolonizacji the banking sector. In addition to these major banks, i.e. PKO PB and Pekao S. A. the Treasury also monitors ABB, which belongs to the PZU group is also the official Bank of the National Economy. And indirectly, the state has control of the Postal Bank, the Bank of environmental Protection – all approx. 1/3 of the assets of the banking sector.
– Bank of National Economy is not a commercial Bank, it does not support clients is the development Bank, so you should disable it using this kit. But two large groups: PKO BP and Pekao SA, and a little less, but on the rise Ltd. After this transaction the share of Polish capital in the banking sector, i.e. 52%. And it is healthy, from the point of view of the Polish economy, a more balanced structure właścicielska. Because, unfortunately, in 2009, it was very noticeable that banks with foreign capital very much cięły credit policy, at a time when there were problems with the border. So good to have banks that have their centers, decision-makers are closer to local economy, local businesses and customers. So this is from the point of view of economic stability and development of good and long-term work, – stressed the Chairman of the PFR.
Paul Boris After this transaction the share of Polish capital in the banking sector, i.e. 52%. And it is healthy, from the point of view of the Polish economy.
Prospects repolonizacji
can there be such a transaction, namely, the redemption of government stock banks? for example, Raiffeisen Bank Poland can also be bought. We had to do A. but until the negotiations ended in a fiasco.
– the banking Sector in Poland, but not only, is subject to some consolidation. Decreased profitability of this business, and it is encouraged to connect. But, for example, Raiffeisen was not adopted, because the conditions were unsatisfactory. So probably such large operations like this, UniCredit will not be, predicts guest Units.
Paul Boris Already, probably, such big operations like this, UniCredit will not be
More than 70 percent. Polyakov believes that the financial system is stable, which guarantees the safety of deposits. With less than 40 percent. respondents trust banks. These are the results of the world Bank report.
– in fact the banks, on the one hand, have a lot of trust among customers, if we are talking about stability. But I made some mistakes when selling certain products, and therefore must sometimes now “reputacyjnie” to do,” said Paul Boris, President of the Polish Development Fund.
Elena Zadrożna MB
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