Pekao and BPH

Type
Merger/Acquisition
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
6,000 jobs
Number of planned job losses
Job loss
Announcement Date
3 June 2005
Employment effect (start)
30 June 2006
Foreseen end date
31 December 2008

Description

The merger of Bank Pekao and BPH is set to create the country's biggest lender, with assets of 110 billion zlotys, or nearly a quarter of all Polish banking assets, and a leading position in most market segments.

Analysts say as many as 6,000 jobs could go during the biggest consolidation ever in the Polish banking market.

Sources

  • 3 June 2005: Rzeczpospolita
  • 27 June 2005: Gazeta Wyborcza
  • 6 June 2005: Gazeta Wyborcza

Citation

Eurofound (2005), Pekao and BPH, Merger/Acquisition in Poland, factsheet number 61731, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61731.