In order to pay off its debt to the Portuguese government, Millennium Bank may offload its Polish arm this year. Market watchers claim Millennium is already looking for potential buyers, and, according to the business server parkiet.pl, Poland’s top lender PKO BP is said to be interested in the deal. The website speculates that Millennium’s owners may be encouraged by the recent sell-off of Alior Bank, which is a strong indicator that the Polish financial market is strong, despite the difficult economic climate.
“Certainly, the environment for the higher valuation is currently conductive, and Millennium currently priced above its book value,” said Tomasz Bursa of Ipopema Securities. He added Millenium is an attractive investment target, considering its impressive network and customer base.
