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Bank Pekao SA
Publikacja: 2025-03-27 15:00

PZU insurer's decision on banks in group to be made in Q3 2025, says CEO

Listed insurance group PZU assumes that the presentation of the target scenario for the banks in the group will take place in the third quarter of 2025, PZU's acting CEO Andrzej Klesyk announced at a conference following the publication of group's annual report.


"The creation of the holding company opens up new strategic opportunities with regard to the banking segment (...) I have made a commitment to the supervisory board that at the end of the second quarter, but more likely at the beginning of the third quarter, we will present a decision on what to do with the banks," CEO Klesyk said.

PZU said on Thursday that its 2025-2027 strategy, announced in December, would not be updated; the insurer's board is currently looking at options for the group's banking assets, but needs more time to work out the optimal solution.

At the beginning of December, PZU published its strategy for 2025-27, which includes simplifying the group's structure and consolidating banking assets. The insurer reported at that time that it planned to sell its shares in listed lender Alior to listed lender Pekao in order to generate value for the PZU group and the other shareholders of both banks.

At the beginning of December 2024, a letter of intent was signed between PZU and Pekao to analyse various strategic options for the merger, taking into account the impact on the group's capitals, the external environment, potential synergies and integration costs.

In January, PZU's acting CEO Andrzej Klesyk said that the strategy needed to be clarified in several aspects and announced greater clarity regarding the future of the banks in the group.

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