WARSAW: Poland’s top insurer PZU is on fast track with its next acquisition in the banking sector and may announce it “sooner rather than later,” perhaps by the time of the publication of Q3 financial report, CFO Przemyslaw Dabrowski said on Monday.
“Yet on Friday we were advanced in two processes, one of which was concluded on Saturday,” Dabrowski said. “Since we’ve already said ‘A,’ we will likely say ‘B’ sooner rather than later,” he added. On Saturday PZU announced buying a 25.25% stake in Alior Bank for PLN 1.63 billion, adding it was in talks for two more and can close one by year-end.
PZU “dreams” of buying two more banks, PZU CEO Andrzej Klesyk told the daily Rzeczpospolita on Saturday. The company’s aim is not “re-polonization” the Polish sector, but establishing a big Polish bank as a result of the investments would be good for Poland, Klesyk said.
