PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

GE Capital to divest BPH TFI mutual fund unit?


2012-05-21



GE Capital is looking for a buyer for BPH TFI, its mutual fund-management arm in Poland, in a deal expected to fetch at least PLN 200m (approx. €46m), Puls Biznesu reported citing sources close to Bank BPH, GE’s Polish bank.

BPH has already held exploratory talks with all the major players on the Polish market and the auction is expected to attract many potential buyers, as the current tough market environment for mutual funds is placing a premium on consolidation and cost synergies.

BPH TFI has around PLN 3bn (€685m) in assets under management and is profitable, but is not treated by owners as a core business and will be divested as part of a wider restructuring drive, according to the paper’s sources. In April Bank BPH announced plans to cut up to 600 jobs, or nearly 10% of its workforce, in 2012 in an effort to improve its cost-to-income ratio.



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news
 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.