Poland's largest bank PKO BP will focus on acquisitions in the coming years, the bank's CEO Zbigniew Jagiełło said. The bank's strategy for 2013-2015 assumes that acquisitions will be more attractive than organic growth.
“There are banks in Poland that we would like to buy; there are about four [international] banks [with units in Poland] that are thinking about leaving Poland,” Mr Jagiełło said.
He added that PKO BP would again offer to increase its stake in Bank Pocztowy. The Polish Post (Poczta Polska), which controls Bank Pocztowy, rejected two such offers from PKO previously.
Polish media have recently reported the planned exit of four financial institutions from Poland: Bank Millennium, Nordea Bank Polska and the Polish units of BNP Paribas and Credit Agricole. These could be among the acquisition targets that PKO BP is eying.
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