Bank to disappear

Alan Heath
06-08-2001, 00:00

Bank to disappear

It would appear that Kalisz based Wielkopolski Bank Rolniczy is about to disappear from the market, swallowed up by a Polish institution.

WBR has been seeking PLN20m extra capital from its main shareholders Bakoma Bis and Lubelska Korporacja Finansowa.

It needs EUR6m for its repair programme and it hoped to raise this cash through a new share issue.

The bank admitted that it was prepared to look for new investors if existing shareholders were unwilling to put more capital into it. Negotiations on this subject came to nought and a sale was the only option left.

The future of the bank should become clear within the next few days.

© ℗
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