Warsaw (Puls Biznesu) – Pekao and BPH showed that despite the ongoing process of integration they are developing fast.
The heads of Pekao and Bank BPH agreed that 2006 was the best year in the history of both companies. Pekao, Poland’s second largest bank, had nearly PLN 1.8 billion (EUR 464.4m) of net income, or 16.6 percent more than a year earlier. Bank BPH, Poland’s third largest bank, had PLN 1.3 billion of net income, or 23 percent more than in 2005.
The income will be partially paid out to shareholders.
“We want to pay out 85 percent of our income as dividend, the same as last year”, Jozef Wancer, Bank BPH CEO said.
The shareholders will get PLN 1.1 billion.
“I can only promise that shareholders will get more than last year”, Jan Krzysztof Bielecki, Pekao head said.
In 2005, the bank paid out 81 percent of its income as dividend.
Shareholders were not very enthusiastic about the news. Pekao rose 1.5 percent. Bank BPH rose at first but then ended unchanged. Bank BPH is going to be split. 200 outlets, PLN 8.6 billion of assets, 3,200 workers will be acquired by a new investor. According to Jozef Wancer, the final deadline to submit offers and the process of choosing new investor should be concluded in March. In April, the GSM will be held to approve of the split.
(PLN 1 = EUR 0.258)