WARSAW: Second-ranked Polish lender Pekao, pressured by a recent takeover of the Polish unit of Nordea by its larger rival PKO, is keeping eyes out for possible acquisitions its Chief Executive Luigi Lovalio was quoted as saying.
"We are looking at the market with caution. If an opportunity, that will let us to grow, appears, we will do everything to take advantage of it," Lovalio told Saturday's edition of the Gazeta Wyborcza newspaper.
In mid-June, when state-controlled PKO bought Poland's tenth-largest lender, Nordea Bank Polska, market sources said Pekao was among potential buyers.
Lovalio also said he expected a small, single-digit net profit drop in the whole of 2013 after the bank posted a 2-percent rise in the last year's earnings.
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