January 9, 2018 / 4:38 PM / 8 days ago

BRIEF-Poland's PZU targets ROE above 22 pct in 2020

Jan 9 (Reuters) - Powszechny Zaklad Ubezpieczen SA:

* Poland’s biggest insurer PZU says in its updated strategy it plans to increase its ROE ratio to above 22 percent in 2020 from 14.9 percent in 2016

* PZU also says its banking arm will contribute to the group’s net profit more than 900 million zloty ($256.56 million) in 2020, up from 181 million zloty in 2016. PZU has stakes in Alior Bank and Bank Pekao SA

* PZU says to spend on dividends no less than 50 percent of consolidated yearly net profit. It may spend 80 percent if no major takeovers are conducted. Source text for Eikon: Further company coverage: ($1 = 3.5080 zlotys) (Reporting by Marcin Goclowski; Editing by Lidia Kelly)

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