PKO Bank Polski : Polish Post Likely To Accept PKO BP’s Offer for Postal Bank.
Powszechna Kasa Oszczednosci Bank Polski SA (PKO.WA), Poland’s No. 1 bank by assets, expects the country’s government-owned postal service company to accept its offer to buy out the postal service’s stake in Bank Pocztowy SA, Chief Executive Zbigniew Jagiello said Monday.
PKO BP already holds a 25% stake in Bank Pocztowy.
The deal could bring the Polish postal service, Poczta Polska, about 250 million zlotys ($72.9 million) to PLN300 million, for its 75% stake, domestic daily Parkiet reported on July 12.
Mr. Jagiello, speaking at a news conference, added that he expects a decision in September or October.
The post Bank is a universal Bank providing a secure and transparent financial services of postal offices and their branches throughout the country.
The Bank was founded in 1990 in Bydgoszcz. Shareholders of the Bank are Poczta Polska (75% minus 10 shares) and Universal Kasa Bank Polish S. A. (25% plus 10 shares).
Thanks to the bank’s shareholders Bank Pocztowy has the largest distribution network in the country and access to the most modern banking solutions.
The Postal Bank offers its services at nearly five thousand post offices across the country. Among the products offered to customers are: personal accounts, payments and payment on account, deposits and cash credits.
