The Polish Financial Supervision Authority (KNF), the country’s banking regulator, said on Tuesday it sees no obstacles to Alior Bank taking over Bank BPH, with the exception of its mortgage business.
Earlier in June, Poland’s Office of Competition and Consumer Protection (UOKiK), greenlighted the transfer of the core part of Bank BPH’s business to Alior Bank.
General Electric Co. currently owns a majority stake of 87.23% in Bank BPH, worth PLN 2.2 bn (EUR 0.5 bn).
GE Capital’s efforts to sell Bank BPH’s non-mortgage banking assets are part of the US corporation’s strategy to sell off most of its European businesses so as to focus on its core operations.
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