Bank Zachodni WBK
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Bank Zachodni WBK SA is a Polish bank.
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).[1]
Today BZ-WBK, with offices in Poznań, Wroclaw and Warsaw, is Poland's fourth largest commercial bank with 430 branches nationwide and 9500 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.[2]
As BZWBK's main shareholder AIB representatives control half of the company's Supervisory Board.
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