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Reports: Alior Bank's share issue to exceed 1.52B zlotys, says CEO

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Reports: Alior Bank's share issue to exceed 1.52B zlotys, says CEO

Alior BankSA CEO Wojciech Sobieraj said April 1 that the bank's planned shareissue, aimed at financing the acquisition of Bank BPH SA's core bank and strengthening Alior'scapital position, will exceed 1.52 billion Polish zlotys, Reuters reported thesame day.

"We have to remember that we have to buy out also BPH'sminority shareholders, so the transaction price will not be 1.225 [billionzlotys], but 1.52 billion zlotys," Sobieraj reportedly told journalists ona conference call. He also said the size of the issue would be determined inthe coming days, according to a separate report from PAP.

According to the Reuters report, Sobieraj also said he hasseen many "attractive" loan portfolios put up for sale.

Earlier the same day, Alior Bank to acquire 's stake in BankBPH's core business. The stake, which amounts to 87.23% of Bank BPH's corebusiness, has a purchase price of 1.23 billion zlotys, subject to adjustments,while the entire core business is worth 1.53 billion zlotys.

Sobieraj said he expects Alior Bank to post a profit in 2017despite the cost of the integration, according to another same-day report fromPAP.

As of April 1, US$1was equivalent to 3.74 Polish zlotys.