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Alior Bank secures Polish regulator's approval for Bank BPH acquisition

Alior BankSA secured the approval of the Polish FSA for its of 's business, without the mortgage portfolio and BPH TFI,from General ElectricCo.'s GE Capital.

The Polish lender also said unconditional approval for the transactionwas issued by the president of the Office of Competition and ConsumerProtection. Alior Bank noted that it secured 2.2 billion Polish zlotys offunding for thetransaction through a rights issue in the second quarter.

The transaction, which is expected to be completed in thefourth quarter, will result in Alior Bank becoming the ninth-largest bank inPoland by assets.

As of July 20, US$1 was equivalent to 3.97 Polish zlotys.