CEO of PKO Zbigniew Jagiełło pulled down by politics

The head of the state giant PKO BP, Zbigniew Jagiełło – a longtime friend of the prime minister – was forced to resign because the PiS authorities want to have greater political control over the bank’s money and its staff. As a pretext for the attack on Jagiełło, a financial operation from years ago was used, according to Onet.pl.

The prime minister loses his associates but still believes he will be able to save his own skin.

A few weeks ago, an analysis prepared by one of his trusted people hit Jarosław Kaczyński’s desk. This is a description of the transaction from 2014, when – still under the PO-PSL government – the state-owned bank PKO BP bought the Polish branch of the Scandinavian bank Nordea. Why did Kaczyński get an analysis of the situation from seven years ago? Only because both during the PO’s rule and during the PiS term, PKO BP was managed by one man – Zbigniew Jagiełło, a friend of the prime minister.

Onet learned about this analysis. It is written unequivocally – the point is to show PKO BP’s losses on the purchase of Nordea and recall Jagiełło for it. According to the authors of the analysis, Jagiełło overpaid: “PKO BP took over Nordea Bank Polska, as well as most of the other assets of the Nordea group in Poland, for a total price of PLN 4.55 billion (including PLN 2.6 billion for the bank). As part of the acquisition of Nordea Bank Polska , PKO BP paid additional PLN 744 million above the fair value of the bank’s retail segment. “


On Tuesday, the state-owned bank PKO BP announced in a statement that the president of the institution, Zbigniew Jagiełło, resigned. It was a great surprise in the world of finance and politics. Jagiełło has been the president of PKO BP for 12 years.

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