Poland: Whose Bank Is It, Anyway?
Executives at giant Deutsche Bank, Germany's most powerful financial institution, are used to being treated with a certain amount of decorum. But not in Poland, where the Treasury Minister has roundly condemned its attempt to take over BIG Bank Gdanski, the country's fifth-largest bank and one in which Deutsche has a 13.2% stake. A Polish court suspended the board of supervisors that Deutsche installed at BIG on Jan. 28. The country's Securities & Exchange Commission has launched an investigation. And the Warsaw Stock Exchange stopped all trading in BIG shares until Feb. 11. That's when BIG shareholders will reconvene to determine who should run the bank.
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