A new deal could be in the works on the Polish financial market, with country’s biggest lender PKO BP trying to position itself to effect a takeover Poland’s Post Office Bank, Bank Pocztowy. The move could help PKO expand its network in smaller cities, where the Poczta Polska branches have been operating for years. “We’re interested in a long-term strategic alliance with PP in terms of selling our financial services,” PKO’s representatives say adding that talks are currently underway to push the deal through.
A final decision on the model of cooperation has yet to be taken, representatives claim, with only two options being now negotiated. The first one is a strategic agreement, which would make it possible for PKO to sell its products in all of BP’s branches. The other would give PKO a 75 percent stake in Bank Pocztowy, which would be great news for Poland’s Post Office, as it would no longer need to recapitalize its bank, which at this point is thought to need on the order of PLN 500m.
