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Report: Bank Pekao considers buying small digital bank, asset manager

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Report: Bank Pekao considers buying small digital bank, asset manager

Bank Pekao SA CEO Michal Krupinski said the Polish lender is considering buying a small digital bank abroad, or starting one from scratch, and could also acquire an independent asset manager, Reuters reported Sept. 9.

Bank Pekao could also merge its asset management unit with small independent asset managers, or acquire them outright, Krupinski added on the sidelines of a business forum in Italy. Krupinski said a decision regarding whether the bank should build a digital bank from scratch or buy a small digital bank abroad would likely be reached within a couple of quarters.

Bank Pekao's CEO ruled out the firm considering a domestic merger after the bank said in August that it was withdrawing from merger talks with fellow Polish lender Alior Bank SA after failing to reach an agreement over the terms of a deal.