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BNP Paribas mulling more acquisitions in Poland?

28th January 2014
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The French bank is in a good position to further expand its presence in Poland

BNP Paribas

After it finalizes the takeover of Bank Gospodarki Żywnoĥciowej (BGŻ), French lender BNP Paribas may make further acquisitions, Józef Wancer, the CEO of BGŻ, told Parkiet.

“There are still opportunities on the market and if I was in the place of BNP Paribas, I would not be satisfied with the BGŻ takeover alone,” Wancer said.

BNP Paribas signed an initial agreement to acquire BGŻ in December. The deal will allow it to broaden its scale of activity in Poland, Wancer said.

“BNP is a stable financial institution, which can’t be said about many other financial groups [operating in Poland]. I think that out of the ten biggest banks in Poland, only six-seven will remain,” Wancer added.

The takeover of BGŻ by BNP Paribas still awaits the approval of the financial watchdog –  Financial Supervision Authority.

Poland A.M.

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