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Getin Noble Bank and Idea Bank can be consolidated – announced the GNB in an official statement. Leszek Czarnecki, controlling the two entities, would react in this way to "the progressive consolidation of the Polish banking sector and the increasing regulatory requirements".
In the near future, the two banks will take steps to: analysis of possible gains from the merger. Czarnecki relies on "cost synergies" and "strengthening the sales potential of merged institutions."
It is possible that the merger of Getin and Idea Bank is even broader, because in the first concerns the possible "introduction of other investors interested in such a merged entity with connected banks".
Less space on the market
Information on the possibility of merger of banks controlled by Leszek Czarnecki does not seem too surprising. This would be the next step in the consolidation of the Polish market, which has already started some time ago.
The approval of the Financial Supervision Commission of Bank Zachodni WBK (soon to be called Santander Consumer Bank) takeover of the retail part of Deutsche Bank Polska, or granted to BG¯ BNP Paribas for the purchase of 39, part of Raiffeisen Polbank. The merger of Pekao and Alior Bank is also suspended, and rumor has it that Bank Pocztowy could be bought by PKO or Pekao.
Read also: Consolidation becomes a fact. Small banks get harder
Getin and Idea are not big banks – they are respectively the ninth (PLN 60 billion of assets) and the fourteenth (PLN 24 billion). assets) in the ranking of the largest banks in Poland in terms of assets.
Another factor in favor of consolidation, or the introduction to the merger of a new institution, is the lowest performance of Getin Bank.
"Scanning" of the small and medium-sized banks market
Zbigniew Jagie³o, the boss of PKO BP, spoke yesterday about the consolidation and "sweeping" of the medium and small banks market.
– 10 years ago, the first wave of concentration triggered the financial crisis, and now the wave of concentration is linked to a technological race that requires large investments and regulatory pressure in terms of capital, legal and pro -consumer put to banks – says Jagie³o in an interview with PAP. – Smaller organizations are not able to meet these requirements, and if they try, they have a very low return on capital, which means that their owners have to wonder if it's a good distribution of capital – he adds. President of PKO BP
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