POWSZECHNY BANK KREDITOWY (PBK) EQUITY INVESTMENT

cancelled

Privatisation of Powszechny Bank Kredytowy SA w Warszawie (PBK). This project has been cancelled. Project objectives: To support the privatisation of PBK and subsequently facilitate the consolidation of the Polish banking system. Expansion of private ownership of Polish commercial banks and demonstration of the market-led approach to bank consolidation and efficiency improvements. PBK is one of the commercial banks developed from the regional departments of the National Bank of Poland. The Polish government announced the privatisation of PBK by a public tender. The bank is among the six largest Polish banks offering universal banking services throughout the entire country with a particularly strong presence in Warsaw and north-eastern Poland. Equity investment acquiring a minority stake of up to 15 per cent of the bank's shares in the privatisation process alongside a strategic investor which would acquire the majority stake of PBK. n/a PBK will carry out its operations in accordance with the EBRD's environmental procedures for local banks. In implementing these procedures, PBK will require its borrowers to comply with national/local health, safety, environmental and public consultation requirements. PBK will submit annual environmental reports to the EBRD. None