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Friday, December 1, 2023

PKO BP changes its mind regarding the takeover of the block of shares in Bank Pocztowy

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The Management Board of PKO Bank Polski decided to complete all work related to the transaction of possible purchase of a 75 percent stake in Bank Pocztowy from Poczta Polska – PKO BP said in a statement. The largest bank in Poland currently owns 25 percent of the shares of Bank Pocztowy.

“The Management Board of PKO Bank Polski SA (…) hereby informs that on October 31, 2023, the bank decided to withdraw from the investment process regarding the possible acquisition by the bank from Poczta Polska SA of a block of shares of Bank Pocztowy SA owned by Poczta Polska SA, i.e. 75 percent minus 10 shares of Bank Pocztowy SA. (…) and decided to complete all work related to the transaction,” it was reported in Friday’s announcement.

In September 2022, PKO BP announced that it was considering purchasing a 75% stake from Poczta Polska. minus 10 shares of Bank Pocztowy.

Poczta Polska currently owns 75 percent. shares (minus ten shares) of Bank Pocztowy. The second co-owner is PKO BP with 25 percent. shares (plus ten shares).

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Bank Pocztowy and PKO BP

At the end of December 2022, 748.4 thousand people used the services of Bank Pocztowy. retail (individual) customers and approximately 28 thousand institutional clients, including approximately 11.7 thousand from the housing segment, 642 enterprises and 14.8 thousand from the micro-enterprise segment. The value of PKO BP’s assets is PLN 461 billion. In the first half of 2023, the bank generated over PLN 2 billion in net profit. The company serves 11.8 million customers; The State Treasury has 29.43 percent. bank shares.

Read also: Banks close customer accounts. They don’t agree with their views

Main photo source: Mateusz Szymanski / Shutterstock

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