The Banking Supervisory Commission adjourned its Wednesday’s proceedings on the motion of UniCredito Italiano to permit the bank to exercise the voting rights from 71.03% shares in Bank BPH till next Wednesday so as to enable UCI’ CEO Alessandro Profumo to study all the materials linked to the case and answer the KNB’s members questions, KNB head Leszek Balcerowicz said.
The governor of the National Bank of Poland added that the sitting was adjourned till Wed., March 15, at 4 p.m. local time. Last week, the Treasury asked the KNB to permit the ministry’s representative to take part in the proceedings on the motion of UniCredito Italiano concerning Bank BPH. The Treasury said it wanted the KNB to decline to give such a permit to UCI. Balcerowicz said on Wednesday that his vote as the chairman decided that the ministry’s motion was turned down. UniCredito announced earlier that it wanted to merge Bank BPH, which it gained after taking over Germany’s HVB, with its Polish asset - Bank Pekao SA. The merger would take place in one to two years. If that scenario materializes the largest bank in Poland would be formed, controlling around 20% of the market. The Polish government opposes the merger.
