Bank Zachodni WBK
is a Polish
bank with headquarters in Wrocław
, offering financial products and services. The bank is one of the three largest banks in Poland. It was formed by the merger in 2001 of Bank Zachodni SA and Wielkopolski Bank Credit SA. The current chairman of the board of the bank is Mateusz Morawiecki, who has held the position since May 2007.
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).
Today BZ-WBK, with offices in Poznań
, is Poland's third largest commercial bank with 430 branches nationwide and 9,500 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.
On September 9, 2010, it was announced that the Spanish
, had struck a deal to buy AIB's stake in the bank for €3.1 billion.