AIB's Polish target bids for banks

 

WBK, the Polish bank in which Allied Irish Banks is likely to build a 60 per cent stake over the next three years, is one of four banks bidding to buy the state owned Polish Investment Bank and Prosper Bank. WBK president Mr Jacek Ksen said that WBK would not make a final decision on making the bid until it completed a detailed financial analysis of the two banks.

Meanwhile WBK in which AIB currently has a 36 per cent stake and an option to buy the 24 per cent held by the European Bank for Reconstruction and Development - has joined forces with AIB to set up an asset management company and a trust fund corporation in Poland. The joint venture will be equally owned by WBK and AIB.