According to Polish daily Parkiet, BRE Bank is likely to be replaced by Getin Bank in the WIG 20 index, by the time of annual index revision (16 March). Official index revision is expected to be announced on January 31.
Our view: BRE Bank currently has a weight of 2.2%. We expect the news to have a negative trading impact on BRE Bank and positive on Getin Bank. BRE Bank can still return to the Polish blue-chip index by the end of the year 2007 – replacing Bank BPH.