Bank Polska Kasa Opieki S.A. (WSE:PEO) is considering buying a small digital bank abroad, or starting one from scratch, and could also acquire an independent asset manager, Chief Executive Michal Krupinski told Reuters on September 08, 2018. Michal Krupinski ruled out Pekao considering a domestic merger after a deal with smaller peer Alior Bank fell through August. Krupinski said he expected further consolidation in the Polish banking market, which could also be affected by mooted cross-border mergers in Europe as foreign banks have operations in Poland, Reuters reported. “I see the Polish banking market consolidating to around five to six players over the next five years,” Michal Krupinski said on the sidelines of the annual Ambrosetti business forum on the shores of Lake Como. Krupinski said a decision would likely be reached within a couple of quarters over whether Pekao should build a digital bank from scratch or buy a small foreign player. “We’re screening a number of potential targets in countries such as the UK, Germany or France, where there is a significant Polish presence. There are some interesting players in the market, it would be a relatively small acquisition which we can rapidly grow” Krupinski said.