BPH division divides Polish MPs

APA - Austria Presse Agentur
11-10-2006, 16:35

Warsaw (Puls Biznesu) – Opposition parties are against the changes necessary for the Polish government to do what it promised to Unicredit.

Warsaw (Puls Biznesu) – Opposition parties are against the changes necessary for the Polish government to do what it promised to Unicredit.

Yesterday, the parliamentary Finance Commission was discussing the bill changing the banking law. It provides for a possibility to divide banks in Poland. Pawel Szalamacha, the deputy Minister of the Treasure, believed that the law is necessary for the Polish government to do what it promised to Italian Unicredit. However, the representatives of the banking sector warned that the law may twist the security of Poland’s financial system. The MPs split equally: 14 of them were for and 14 against the government bill.

The President has to sign the new lat before October 19th. In April, the government and Unicredit signed agreement. The Italians are expected to divide 200 outlets from Bank BPH and sell them to an investor. The rest of Bank BPH will operate as Pekao. The representatives of the banking sector warn that the proposed changes are dangerous.

“It may start uncontrolled changes in the structure of banks, which would be dangerous for the system and the clients”, Jerzy Pruski, the deputy CEO of the National Bank of Poland said.

“It would be a strategic mistake made by the government and parliament. The deposits of the clients would be shifted to other banks without asking for their permission”, Krzysztof Pietraszkiewicz, the CEO of the Association of Polish Banks commented.

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Podpis: APA - Austria Presse Agentur

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