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PKO Bank, Pekao Advance as Regulator Sees No Risk From Greece

May 21 (Bloomberg) -- Shares in Poland’s two biggest banks rose after the head of the country’s financial market regulator, Andrzej Jakubiak, said he sees no risks to local lenders from Greece’s potential withdrawal from the euro.

PKO Bank Polski SA, the country’s biggest lender controlled by the government, jumped 2.1 percent to 31.68 zloty and Bank Pekao SA, the Polish unit of UniCredit SpA, climbed 2 percent to 135.6 zloty, rising for the first time in three days at 10:21 a.m. in Warsaw. The benchmark WIG20 Index increased 1.5 percent to 2,092.81.

Polish banks have ample capital reserves, Jakubiak said in an interview with Rzeczpospolita, published on the newspaper’s website Rp.pl today. The country’s lenders, which jointly have 150 billion zloty ($44 billion) of financing from their foreign owners, should switch to longer-term funding sources, he said.

“I don’t see any special threats for the Polish financial industry” from Greece, Jakubiak was quoted as saying.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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