Warsaw (Puls Biznesu) – BGZ, Poland’s bank, whose main shareholder is the state (over 47 percent), will soon present its new strategy. The bank has employed Roland Berger consulting company, with headquarters in Germany, with sales of over EUR 530 m last yera. ‘We are preparing our strategy with our new investors: Rabobank International (over 35 percent) and European Bank of Reconstruction and Development (15 percent). The document will be presented to be approved of by shareholders on June 16th’, Anna Pawelska, BGZ spokesperson said.
Rabobank, which in November 2004 bought 13.8 percent of BGZ capital, and increased the stake to 35 percent, said there will be no revolution. Rabo specialises in agriculture and food sector, and probably its Polish subsidiary will develop in the same field. ‘The strategy provides for BGZ IPO’, Anna Pawelska said. Last year, the company’s management said it would be possible in the second half of 2005. The Treasury will offer its stake. ‘BGZ should take the opportunity. This year, the privatisation of PZU insurer will not be held. Therefore, the bank could attract investors. Although banks are strongly represented in the stock market, the sale of shares of PKO BP and ING BSK shows that good price and convincing strategy lure capital’, Robert Sobieraj, Erste analyst commented.
Poland/Enterprises/Banks