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Polish banks Alior and Pekao are undervalued, says PZU chief

Published 08/29/2019, 06:05 AM
Updated 08/29/2019, 06:16 AM
Polish banks Alior and Pekao are undervalued, says PZU chief

WARSAW (Reuters) - Poland's Alior Bank (WA:ALRR) and Warsaw-listed companies in general are undervalued, the chief executive of the country's biggest insurer said on Thursday.

"We see investors running away from developing markets," PZU (WA:PZU) Chief Executive Pawel Surowka said at a news conference, adding that Alior's share price does not give an accurate reflection of the bank's value.

"We hope the stock price for Alior Bank and Pekao SA (WA:PEO) will reflect the value we see in these banks," Surowka said. PZU has stake in both lenders.

Latest comments

Why is Alior bank's share price so low? I bought in in March 2019 when it was PLN 59.74 a share. As of today - 28/02/2020 - it is PLN 21.90 a share i.e. a 64% drop. Why has this happened over such a short period of time? What is the bank's managment doing to boost the share price? Are the bank's management even competent, given such a dramatic fall over such a short period of time? What is going on here. I AM AN EXTREMELY DISSATISFIED SHAREHOLDER.
because it's Poland :-)
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