Poland-based Bank Pekao SA does not rule out potential acquisitions after completing its 2020 strategy, news agency PAP reported Oct. 8.
Pekao Bank CEO Michał Krupiński said the lender is currently concentrating on organic growth and operational transformation, which is part of the 2020 strategy, but it is also monitoring consolidation trends in Poland's banking sector. The executive also noted that any potential acquisitions would have to be consistent with Pekao's strategy and generate additional value for shareholders, according to the report.
Pekao and PKO Bank Polski SA were recently mentioned as potential suitors for the purchase of Commerzbank AGs Polish unit mBank SA. Polish Finance Minister Jerzy Kwieciński recently said that mBank could be a good fit for Polish state-controlled banks, which are monitoring the situation around the sale. The Polish state, directly and indirectly, holds significant stakes in both PKO and Pekao.
