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Pikao bank
Pikao bank









Pekao is a leading Polish bank present in corporate banking, SME banking, retail banking, and asset management, which regularly generates excellent financial results. I do believe that the partnership between PZU and Pekao will create a modern comprehensive offer for clients and contribute to the shareholder value of both institutions,” said Paweł Borys, President of the Polish Development Fund. “The objective of the Polish Development Fund as a long-term strategic financial partner is to support PZU in the implementation of its strategy of building a strong Polish financial group. We expect to earn a dividend of more than PLN 450 million this year,” added Paweł Surówka. Technically speaking, it is an asset which will in the long term generate a stable dividend stream for the PZU Group. “Furthermore, the deal generates additional shareholder value and is good for the clients of both companies thanks to synergies and potential partnerships. We protect their life and health, private and business assets, investments, savings and capital for retirement,” said Paweł Surówka, President of PZU.

#Pikao bank full

Moreover, the deal allows us to offer a full range of financial products at each stage of life of Poles. “The acquisition of Bank Pekao confirms our determination to implement PZU’s strategy 2020, which includes a strong presence in the Polish banking sector. The merger will grow the existing distribution network to 1,356 branches, facilitating customer access to the service offer. The integrated PZU Group will offer a full range of insurance services of Poland’s biggest insurer PZU, banking products of the second largest bank: Pekao and Alior Bank, as well as asset management services of the second largest player in the sector: TFI PZU, TFI Pioneer, PTE PZU and PTE Pioneer. PLN 360 billion (combined assets of PZU SA, Pekao SA and Alior Bank). With this strategic investment, PZU becomes the biggest group to offer comprehensive financial services in Poland and in Central and Eastern Europe with total assets at ca. The purchase price is 2.4% lower than the price of a block of 10% of Pekao shares sold by UniCredit in July 2016. The deal includes a direct acquisition of 20% of Pekao shares by PZU for PLN 6.5 billion and a direct acquisition of 12.8% of Pekao shares by PFR from UniCredit for PLN 4.1 billion. The Polish Financial Supervision Authority (KNF) approved the acquisition of Bank Pekao on. for PLN 10.6 billion was signed between PZU and PFR on the one hand and UniCredit S.p.A.

pikao bank

The agreement for the acquisition of 32.8% of Pekao S.A. As an investor, PFR will support the implementation of Pekao’s strategy focused on investments in new technologies, quality of customer service and operating efficiency of the bank, building long-term shareholder value,” said Paweł Borys, President of the Polish Development Fund. For the Polish Development Fund, this is a profitable long-term investment. This means that the share of Polish capital in the banking sector grows to more than 50%, which is relevant to the stability of the banking industry and to sustainable economic growth. “After about a dozen years, Pekao SA once again becomes a Polish bank and the well-known bison brand is back on the market.

pikao bank

I believe that PZU and Pekao joining their ranks will significantly strengthen the stability and financial outlook of the Polish economy,” said Paweł Surówka, President of PZU SA. This affords the opportunity to develop many new solutions including non-life insurance, investments and life insurance, for instance addressed to small and medium-sized family businesses. Pekao is a major market player with a large-scale business, an extensive distribution network and excellent customer relationships. I am positive that the partnership with Pekao SA will be a success. By closing the acquisition of Bank Pekao, PZU becomes the biggest financial group in Central and Eastern Europe and a leader in insurance, banking, and asset management. The acquisition of Pekao matches PZU’s strategy by the year 2020, which provides for the creation of a banking group with assets of at least PLN 140 billion as well as PLN 50 billion of assets under management. The transaction matches the strategy of the Polish Development Fund: to make important investments in the Polish economy which provide an attractive return in the long term. This was one of the biggest deals in the European banking industry in the last few years. The purchase price was PLN 123 per share. On 7 June 2017, PFR and PZU closed the acquisition of 32.8% of Bank Pekao SA for PLN 10.6 billion.









Pikao bank