Poland’s mortgage giant PKO BP was deposed in March from its top spot on the financial providers list by Pekao bank, according to data provided by AMRON-SERAFIN. A year after he was named, Pekao, under the leadership of Luigi Lavaglio has caught up and overtaken the leader with PLN 580m in residential mortgages. This was PLN 162m more than PKO BP.
This indicates that Lavaglio’s strategy, which he implemented immediately after taking charge in 2010, has been successful.
In comparison, in March 2010 PKO PB pumped PLN 1.069bn into Poland’s residential sector, while Pekao managed just PLN 686m. Referring to the data during a recent press conference, PKO BP’s head Zbigniew Jagiełlo said he was focusing more on profitability than on volume.
