Will PKO BP take over Millennium? Mateusz Gołąb/WBJ

PKO BP, Poland's largest bank, is planning acquisitions, the bank's CEO Zbiegniew Jagiełło told daily Rzeczpospolita. Taking over a large bank that has a significant presence in cities and a portfolio of wealthy clients would be justified from a business point of view, and Bank Millennium meets these criteria, he said.

Earlier this year it was reported that Bank Millennium, owned by Portuguese lender Millennium BCP, was on the block again after failing to be sold in 2011. BCP is looking to gain the funds it needs to pay back government aid it received during the financial crisis.

If PKO BP were to acquire Millennium, it would have a 16-17 percent share in Poland's banking assets, Mr Jagiełło added. He said that if an offer is officially filed to the shareholders of Millennium, the bank will certainly announce it.

Mr Jagiełło also confirmed that PKO BP offered to launch a strategic alliance with postal operator Poczta Polska over Bank Pocztowy. Cooperation in this area could help PKO BP expand in Poland's smaller towns, Mr Jagiełło said.

Poland A.M.