Crédit Agricole plans to leave Poland

According to Reuters information obtained from two sources, Crédit Agricole plans to leave Poland. The reason? No opportunity to compete with larger players in the market in the current low interest rate environment. Crédit Agricole is the thirteenth bank in Poland in terms of assets. It has about 33 billion zlotys (including a group leasing company), which means that it is nine times smaller than the largest Polish bank PKO Bank Polski.

Crédit Agricole in France does not comment on agencies' reports. 19659002] Information on the possible output of Credit Agricole Poland is surprising, among other things because about two weeks ago, Reuters informed about the other plans of the bank. The French were supposed to consider buying Eurobank, the Polish branch of another French bank – Société Générale. However, these two completely different versions can be reconciled – Reuters says that in the absence of a sufficient "breakthrough" on the Polish market, the Credit Agricole could either strengthen (for example by a merger with Eurobank), ie ewakuowaæ. Both solutions must be considered. Another thing is that, as Reuters points out, even the acquisition of Eurobank with assets of 14 billion PLN would not fundamentally change the situation of Credit Agricole on the Polish market

What is the # 39: Crédit Agricole's future in Poland? It will show the future. There is no doubt, however, that the banking market in Poland is consolidating and that smaller banks are facing weaker and weaker markets. It is likely that Poland's second-largest bank, Pekao, will be taken over by Alior Bank (apparently President Jarosław Kaczyński has accepted this merger, the question being whether KNF or UOKiK will be equally enthusiastic). At the end of December, Deutsche Bank informed the Polish side of the sale. The buyer is one of the largest banks in Poland – BZ WBK. By the end of the year, the recovery process of Raiffeisen Polbank by BG¯ BNP Paribas should be completed. In recent years, they have joined BG¯ and BNP Paribas banks, Raiffeisen and Polbank, Alior Bank have taken over Meritum Bank and the bulk of BPH's banking activities (excluding mortgages), Nordea Bank has gone to PKO Bank Polski and Kredyt Bank – Bank Zachodni WBK.

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