According to Polish daily Rzeczpospolita, PKO BP
has enquired Banking Supervisory Commission for the approval of starting operations on the base of European passport. Marek Klucinski, PKO BP
representative has confirmed that the company plans to open branches abroad.
Our view: PKO BP
has been discussing its expansion in Eastern Europe, primarily via acquisitions (among others bank was looking at targets in Romania, Bulgaria, Serbia, Croatia), for some time. The greenfield expansion is somewhat new, but we still expect the news to have a neutral impact on the stock trading. Supervisory board will vote on its new 6-years strategy on April 20th.