Between 1995 and 1996 Allied Irish Banks began to invest into Poland's emerging economy by purchasing 60.1% of Wielkopolski Bank Kredytowy, one of the country's most successful commercial banks. In June 1999 they continued their investment in Poland by acquiring 70% of Bank Zachodni S.A.. In June 2001 the two banks were merged by the AIB Group into Bank Zachodni WBK SA (BZ-WBK).
Today BZ-WBK, with offices in Poznań, Wroclaw and Warsaw, is Poland's fourth largest commercial bank with 430 branches nationwide and 9500 staff. In the first quarter of 2006 BZ-WBK made €40 million after tax, an increase of 47% compared to the first quarter of 2005 due to its growth in market share and investment funds. For the past five years growth has been in the double figures.
As BZWBK's main shareholder AIB representatives control half of the company's Supervisory Board.
Ebrd Reduces Stake in Bank Zachodni Wbk Partial Sale Reflects Strong Investor Demand and Ebrd's Continued Commitment to the Bank
Oct 30, 2013; LONDON -- The following information was released by the European Bank for Reconstruction and Development (EBRD): Author(s):Axel...