Raiffeisen interested in Bank Pocztowy

Alan Heath
25-01-2001, 00:00

Raiffeisen interested in Bank Pocztowy

Jeffrey Millikan, CEO of Raiffeisen bank said the bank was interested in getting a stake in Bank Pocztowy. He said that he had sent a team to Bydgoszcz to study a possible acquisition process and is now waiting for an answer from BP. One third of BP is owned by Gdynia based systems integrator Prokom whilst the remainder is in the hands of the post office. Raiffeisen are interested in taking a stake of between 25 and 35 percent, diluting the shares of the other owners. They would then be willing to study how to invest further in the bank.

Jeffrey Millikan said that it was in the interest of the owners to do something now as the value of BP would only drop as it lacks the resources to keep up with its competition.

Raiffeisen Bank will today launch a new current account with an overdraft facility and what the bank claims are very straightforward procedures. Michael Hanlon, managing director of consumer banking said that it was following in the footsteps of the bank's successful deposit account launched in September which has so far found 10,000 customers who have deposited a total of PLN170m. He said that the total amount of deposits was ‘well in excess of original expectations’.

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Puls Inwestora / Raiffeisen interested in Bank Pocztowy