August 29, 2019 / 10:06 AM / 18 days ago

Polish banks Alior and Pekao are undervalued, says PZU chief

WARSAW (Reuters) - Poland’s Alior Bank (ALRR.WA) 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 (PZU.WA) 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 (PEO.WA) will reflect the value we see in these banks,” Surowka said. PZU has stake in both lenders.

Reporting by Marcin Goclowski; Writing by Joanna Plucinska; Editing by David Goodman

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