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PKO denies Pekao merger plans.

Global Banking News-December 8, 2017--PKO denies Pekao merger plans

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Global Banking News - 08 December 2017

PKO BP, considered to be Poland's biggest bank, has denied news that it is planning a merge with rival bank, Pekao.

The firm said, 'It is not true that PKO BP has participated in talks regarding the possibility of merging PKO BP with Pekao. PKO BP is not working on any projects regarding the suggested merger ... a merger is not the aim for 2018.'

PKO BP and Pekao have 9.4 million and 5.4 million clients respectively and a merger could create an entity that has 34 percent of market share in the Polish loan and deposits market.

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Publication:Global Banking News (GBN)
Date:Dec 8, 2017
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