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More foreign banks to likely sell Polish units in 2017, says Polish deputy PM

More foreign banks are expected to sell their Polish businesses in the wake of UniCredit SpA's sale of its holding in Bank Pekao SA, Reuters reported Dec. 21, citing Poland's deputy prime minister, Mateusz Morawiecki.

Following the sale of a 32.8% stake in Pekao to state-controlled insurer PZU SA and the Polski Fundusz Rozwoju, or Polish Development Fund, Reuters noted that Polish capital has gained control of the country's banking sector, which for years was controlled by foreign banks. "This domestication makes sense," Morawiecki said.

Raiffeisen Bank International AG recently ended talks to sell Raiffeisen Bank Polska SA to Alior Bank SA and said it will assess options for the Polish unit after floating it on the Warsaw stock exchange. Deutsche Bank AG is said to be considering selling its Polish business, Deutsche Bank Polska SA.

"I expect that next year we may see more financial institutions being put up for sale," Morawiecki reportedly said.