Andrzej Klesyk, CEO of Poland’s top insurer, revealed that PZU has PLN 6bn to spend on acquisitions within the Polish banking sector. Earlier this year, Klesyk revealed the company’s aims to create the fourth largest bank by assets in the country. With a growing number of banks in Poland being put on the market, PZU has already gotten the green light from the Polish financial regulator to take over Alior Bank. “We are potentially interested in any bank outside Poland’s top five,” Klesyk told Reuters. Market observers speculate that PZU is targeting BPH and Raiffeisen Polbank, but the process is taking longer than expected due to complications surrounding its Swiss franc denominated mortgages portfolio.
