With reference to press publications concerning the decision issued by the Commission for Banking Supervision pertaining to the request submitted by Unicredito for the exercise of voting rights at the General Meeting of Shareholders of Bank BPH of Cracow, the NBP Press Office wishes to communicate that:
- Pursuant to the by-laws of the Commission for Banking Supervision issued in accordance with article 28, clause 2 of the Act on the NBP, granting authorisations for the execution of voting rights at the General Meeting of Shareholders of the Bank is the sole responsibility of the Commission for Banking Supervision, and follows standard proceedings conducted in line with the provisions of the act Banking Law and with the Code of Administrative Procedure.
- The Commission for Banking Supervision, whose composition is specified by Article 26, clause 1 of the Act on the NBP, comprises the following members:
- the Chairperson of the Commission, this being the President of the NBP,
- the Deputy Chairperson of the Commission, this being the Minister of Finance or a delegated representative thereof, this being a Secretary or Undersecretary of State at the Ministry of Finance,
- a representative of the President of the Polish Republic,
- the President of the Management Board of the Bank Guarantee Fund,
- the Chairperson of the Securities and Exchange Commission, or a deputy thereof,
- a representative of the Minister of Finance,
- the General Inspector of Banking Supervision.
Pursuant to Article 27 of the Act on the NBP, the Commission shall rule on matters within its terms of reference by majority vote, in the presence of at least half of its members. Therefore, it is not possible for members of the CBS to take decisions acting individually or to leave any issues to be settled by other members of the Commission.
- The Commission for Banking Supervision shall keep the applicant informed of the course of the proceedings, actions needed to be undertaken and the scheduled date of finalising the proceedings, in accordance with the effective provisions. The proceedings before the CBS in the matter of the Unicredito's request are under way.
The Commission for Banking Supervision may grant authorisations to exercise the voting rights at the General Meeting of Shareholders after the Commission has found that:
- The entity intending to subscribe to or to purchase shares does not seem to exert a negative impact on the prudential and stable management of the Bank,
- the funds assigned for the purchase of shares do not originate from loan, credit or undocumented sources,
- the legal provisions effective at the seat or at the place of residence of the said entity do not prevent the Commission for Banking Supervision from exercising the effective supervision.
The aim of the above stipulations is to ensure security and stability of operations conducted by the bank whose shares are purchased.
They do not refer, in any way, to political issues or matters related to the protection of competition on the banking services market. Thereby, in particular, the European Commission's decisions concerning mergers and admissible banking market concentration derived thereof, do not - and cannot - have any impact whatsoever on the proceedings or decisions of the Commission for Banking Supervision concerning the authorisation for the exercise of voting rights at the General Meeting of Shareholders of the Bank. The competencies of the two bodies in this field are totally separate.
UniCredito Italiano SpA, while purchasing the majority interest of Bank BPH of Cracow, will gain control over the second and the third largest bank in Poland, whereas their possible merger would be an unprecedented transaction in the European Union. Therefore, this issue requires a detailed and thorough analysis of all potential implications, especially of its impact on the stability of the whole banking sector in Poland. At this moment, the General Inspectorate of Banking Supervision is waiting for UniCredito Italiano to provide the missing documents necessary for examining its request.