Bank Zachodni WBK SA
Encyclopedia
Bank Zachodni WBK is a Polish
bank with headquarters in Wrocław, Poznań
and Warsaw
, offering financial products and services. The bank is one of the three largest banks in Poland. It was formed by the merger in 2001 of Bank Zachodni SA and Wielkopolski Bank Kredytowy SA. The current chairman of the board of the bank is Mateusz Morawiecki, who has held the position since May 2007.
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 third largest commercial bank with 430 branches nationwide and 9,500 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.
On September 9, 2010, it was announced that the Spanish
bank, Santander, had struck a deal to buy AIB's stake in the bank for €3.1 billion.
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
bank with headquarters in Wrocław, Poznań
Poznan
Poznań is a city on the Warta river in west-central Poland, with a population of 556,022 in June 2009. It is among the oldest cities in Poland, and was one of the most important centres in the early Polish state, whose first rulers were buried at Poznań's cathedral. It is sometimes claimed to be...
and Warsaw
Warsaw
Warsaw is the capital and largest city of Poland. It is located on the Vistula River, roughly from the Baltic Sea and from the Carpathian Mountains. Its population in 2010 was estimated at 1,716,855 residents with a greater metropolitan area of 2,631,902 residents, making Warsaw the 10th most...
, offering financial products and services. The bank is one of the three largest banks in Poland. It was formed by the merger in 2001 of Bank Zachodni SA and Wielkopolski Bank Kredytowy SA. The current chairman of the board of the bank is Mateusz Morawiecki, who has held the position since May 2007.
Between 1995 and 1996 Allied Irish Banks
Allied Irish Banks
Allied Irish Banks p.l.c. is a major commercial bank based in Ireland.AIB is one of the so called "big four" commercial banks in the state. The bank has one of the largest branch networks in Ireland; only Bank of Ireland fully rivals it. AIB offers a full range of personal and corporate banking...
began to invest into Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
's emerging economy by purchasing 60.1% of Wielkopolski Bank Kredytowy
Wielkopolski Bank Kredytowy
Wielkopolski Bank Kredytowy SA was a Poland-based commercial bank, which offered the normal range of retail and commercial financial services through its branch network. Allied Irish Banks, its owners, merged it with Bank Zachodni to form BZ-WBK....
, one of the country's most successful commercial banks. In June 1999 they continued their investment in Poland by acquiring 70% of Bank Zachodni
Bank Zachodni
Bank Zachodni S.A. was a Poland based commercial bank that offered the normal range of retail and commercial banking services. Its owners, Allied Irish Banks, merged it with Wielkopolski Bank Kredytowy in 2001 to form BZ-WBK....
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
Poznan
Poznań is a city on the Warta river in west-central Poland, with a population of 556,022 in June 2009. It is among the oldest cities in Poland, and was one of the most important centres in the early Polish state, whose first rulers were buried at Poznań's cathedral. It is sometimes claimed to be...
, Wroclaw
Wroclaw
Wrocław , situated on the River Oder , is the main city of southwestern Poland.Wrocław was the historical capital of Silesia and is today the capital of the Lower Silesian Voivodeship. Over the centuries, the city has been part of either Poland, Bohemia, Austria, Prussia, or Germany, but since 1945...
and Warsaw
Warsaw
Warsaw is the capital and largest city of Poland. It is located on the Vistula River, roughly from the Baltic Sea and from the Carpathian Mountains. Its population in 2010 was estimated at 1,716,855 residents with a greater metropolitan area of 2,631,902 residents, making Warsaw the 10th most...
, is Poland's third largest commercial bank with 430 branches nationwide and 9,500 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.
On September 9, 2010, it was announced that the Spanish
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
bank, Santander, had struck a deal to buy AIB's stake in the bank for €3.1 billion.