Wielkopolski Bank Kredytowy
Wielkopolski Bank Kredytowy SA (lit. 'Credit Bank of Greater Poland'), also known as Bank WBK, was a bank based in Poznań, Poland. It was established in 1988-1989 by spinoff from the National Bank of Poland, majority-acquired in 2000 by Allied Irish Banks, and merged in 2001 with Bank Zachodni to form Bank BZ-WBK.
Overview
[edit]Bank WBK was one of nine banks spun off in the late 1980s from the National Bank of Poland, the culmination of a sequence of reforms during the 1980s that brought an end to the country's single-tier banking system.[1]: 18 It was subsequently reorganized as a joint-stock company in 1991. It was then floated on the Warsaw Stock Exchange in 1993, a successful transaction thanks to the intervention of the European Bank for Reconstruction and Development (EBRD) which acquired a 28.5 percent ownership stake.[2]
Allied Irish Banks (AIB) acquired a 16.3-percent stake in 1995, and raised it gradually to reach 60 percent by 2000.[3] AIB had previously acquired an 80-percent stake in Bank Zachodni, and merged the two regional banks in 2001 to form Bank BZ-WBK.
See also
[edit]References
[edit]- ↑ Thomas Smith Mondschean & Timothy Opiela (February 1997), Banking reform in a transition economy: The case of Poland, Federal Reserve Bank of Chicago
- ↑ Jacek Ramotowski (14 May 2014). "EBOR mobilizuje do szybszej transformacji". Obserwator Finansowy.
- ↑ "Nowy prezes BZ". Parkiet. 11 August 2000.
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