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Poland's Alior Bank needs no capital boost, PZU says

Reuters
·1 min read

WARSAW (Reuters) - Polish mid-tier lender Alior Bank <ALRR.WA> will need no capital injection, even if it suffers a loss for 2020, Tomasz Kulik, a management board member at main shareholder PZU <PZW.WA>, said on Friday.

"Even if (a full-year loss) happens or a slowdown in the profitability occurs, this entity will manage alone when it comes to capital," he told a news conference answering a question about whether Alior would need a capital injection.

Kulik also said that PZU has to rethink its strategy in the banking sector as recent interest rate cuts had "turned the situation upside down" in the sector.

Apart from Alior Bank, PZU also controls Poland's second biggest lender, Pekao SA <PEO.WA>.

(Reporting by Marcin Goclowski; editing by Jason Neely)