Yet another lender could be looking to offload Polish assets. Following sales of major stakes in PKO BP and Pekao, KBC is now thinking about selling its 16.2-percent stake in BZ WBK, acquired last year in the merger with (KBC-held) Kredyt Bank. Santander retained a 76.5-percent stake in BZ WBK in the deal. KBC, however, is now under pressure from the European Union to sell off holdings in return for bailout money it received during the crisis.
Market watchers expect a decision will be announced within a month. “BZ WBK is a good investment that stands out from the competition, especially now that many investors hasn’t got its stocks in their portfolio,” said Ryszard Rusak of Union Investment.
According to Polish news reports, Santander looks to increase free-float up to 25 percent in BZ WBK, having come under pressure by the Polish Financial Supervisory Office KNF. It’s expected that Santander will decide to sell. BZ WBK recently posted positive Q4 2012 results.
