The supervisory board of PKO BP has appointed new CEO, Rafal Juszczak (previously acting CEO, deputy CEO) yesterday. This came in line with earlier press speculations.
Our view: In our opinion the appointment of Rafal Juszczak is positive as the market has been slightly constrained about political appointment. Rafal Juszczak which has 12 years of banking experience joined PKO BP in 2005. New CEO combines banking sector experience and insider knowledge of the bank.