AIB ‘not in Polish banking talks’

IRELAND’S biggest company Allied Irish Banks yesterday refuted market speculation it was in talks to widen its holdings in the Polish banking sector. It did not rule out such a move in the future.

AIB already controls mid-sized Polish lender Bank Zachodni WBK and has been rumoured as seeking a merger or new acquisitions in emerging central Europe’s biggest market.

“There have been no serious talks about mergers, acquisitions or partnerships so far. All rumours in the papers and any talk about BZ WBK are not accurate,” AIB Poland head, Gerry Byrne said in an interview.

But Mr Byrne added the Irish bank remained interested in the consolidation of the Polish banking sector.

He would not speculate on potential local partners, but said any deal would need to involve a controlling role for AIB.

Market rumours on the bank’s plans centre around potential mergers with Pekao, ING Bank Slaski or Bank Millennium owned by Portugal’s BCP.

“We cannot envisage AIB in a minority, passive role. We would rather imagine a controlling interest in any scenario,” Mr Byrne said.