EFG Eurobank Ergasias May Look for Partner to Develop Business in Poland

EFG Eurobank Ergasias SA, Greece’s second-biggest bank, may collaborate with a partner to develop its Polish business.

“It is now the right time for us to seek the incorporation of Polbank EFG with its own Polish banking license,” Polbank EFG Chief Executive Officer Kazimierz Stanczak said in an e- mailed statement from Athens-based Eurobank today. The prospects of Poland and its banking industry are “highly attractive,” he said. Polbank is the Polish unit of Eurobank.

The Greek lender isn’t involved in discussion with any particular party, the statement said. Naftemporiki newspaper reported yesterday that Eurobank and HSBC Holdings Plc were expected to announce an agreement to cooperate in the Polish market. The report didn’t say where it got the information.

Eurobank rose 4.6 percent to 4.53 euros in Athens trading today, advancing for a fourth straight day.

Eurobank, which has operated in Poland since 2006, aims to double the size of its balance sheet in the country in the medium term and set up a unit with a full Polish banking license, it said in the statement.

To contact the reporter on this story: Natalie Weeks in Athens nweeks2@bloomberg.net.

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