Bank Pekao SA and Western Union (NYSE: WU) have signed an
agreement to make the Western Union(R) Money Transfer service
available via the Bank Pekao network across Poland. The service
launched this week through the Bank´s extensive network and is
available for outbound and inbound transfers in nearly 900 branches
bringing the total number of locations where the Western Union money
transfer service is available in Poland to nearly 5,000(1).
Bank Pekao SA is the largest commercial Bank in Central and
Eastern Europe in terms of market capitalization, and the largest Bank
in Poland with 5 million individual and corporate customers. The Bank
is also a member of the UniCredit Group, which has a network of more
than 9,000 branches in 23 countries, and 40 million customers.
Western Union is a leading provider of global money transfer
services, providing consumers with fast, reliable and convenient ways
to send and receive money around the world via a network of more than
335,000 Agent locations in more than 200 countries and territories.
"We are delighted to announce our partnering with Bank Pekao SA in
a move that will enable us to extend our network in Poland," said
Hikmet Ersek, Executive Vice President and Managing Director, Western
Union, Europe, Middle East, Africa, South Asia. "We look forward to a
long and mutually rewarding relationship."
According to the IMF, the remittance market in Poland was valued
at approximately $4,360 million for inbound and approximately $787 for
outbound in 2008.(2)
About Western Union
The Western Union Company (NYSE: WU) is a leader in global money
transfer services. Together with its affiliates, Orlandi Valuta, Vigo
and Pago Facil, Western Union provides consumers with fast, reliable
and convenient ways to send and receive money around the world, as
well as send payments and purchase money orders. It operates through a
network of more than 335,000 Agent locations in over 200 countries and
territories. Famous for its pioneering telegraph services, the
original Western Union company dates back to 1851. For more
information, visit www.westernunion.com.
About Bank Pekao SA
Bank Pekao SA has operated for 79 years and is now the largest
bank in CEE in terms of market capitalization. It is largest in Poland
in terms of assets, credits, deposits and investment products. It has
the second largest network of branches (1059 outlets all over the
country) and offers to its clients the largest network of more than
3000 in Poland and 13000 in Europe free of charge ATMs. It has over 5
million clients. Bank Pekao SA was awarded "Best Emerging Market Bank
in Poland 2006" by Global Finance, "Best Bank in Poland 2005" of
Euromoney monthly and "Bank of the Year 2004 in Poland" from The
Banker magazine. Bank Pekao SA belongs to UniCredit Group, which is
present in 23 countries and has 170,000 employees, more than 40
million customers and a network of over 9,000 branches.
(1) Total number of WU locations in Poland is 4,821
(2) IMF, Balance of Payments report of the Statistics Yearbook
2008
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