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Weekly Lists
August 10, 2018 www.intellinews.com I Page 26
bne:Banker Polish banks Pekao and
Alior end merger talks
Poland’s second-largest lender by assets, the state-controlled Bank Pekao, will not merge with smaller competitor Alior Bank, the pair announced on August 7.
Both banks are units of state-controlled insurance giant PZU, which took controlling stakes in the two lenders in effect of the government-encouraged drive to create a strong state financial group in a sector dominated by foreign capital. Speculation about a possible merger began as soon as PZU became the main stake- holder in Alior and later in Pekao.
However, Pekao and Alior said in a statement, “the banks did not reach an agreement with regard to the terms of their merger” that would generate the highest added value for shareholders
of both banks.
Moldova’s public assets agency (APP) will sell a 41% stake in
the country’s largest bank Moldova Agroindbank (MAIB) by open auction on September 2-4, Mold Street reported quoting APP. The European Bank for Reconstruction and Development (EBRD) has already announced plans to submit a bid, as part of a consortium. The starting price is MDL451mn (€23mn).
Agroindbank was the most profitable Moldovan bank in January- June, with a MDL326.mn profit, 4.2% up y/y. Second ranked was Moldindconbank, which will also see a majority stake put up for sale soon.
The EBRD has said it will participate in the upcoming auction, together with private equity firms AB Invalda INVL of Latvia and Horizon Capital.
Macedonia's Komercijalna Banka said on August 8 it has signed a binding agreement with Albanian investment group Balfin to acquire Albania’s Tirana Bank from Greece's Piraeus Bank.
This is third Greek subsidiary in Albania to be sold following the global financial crisis and the Greek crisis that affected the bank- ing system. NBG Albania, a unit of National Bank of Greece (NBG) was acquired by local American Bank of Investments earlier this year. Emporiki Bank was sold to France’s Credit Agricole in 2010. In 2015, the same unit was acquired by US-based NCH Capital and rebranded the American Bank of Investments.
Alpha Bank is now the sole remaining Greek unit which operates in Albania.
Moldova to auction off largest bank in September
Macedonia’s Komercijalna Banka and Albania’s Balfin to acquire Piraeus’ Tirana Bank