ENEA will have a comprehensive bank service

Companies of ENEA Tax Capital Group concluded agreements with PKO BP and Peako S.A. They provide for a possibility of an intergroup financing and a complete bank servicing subject to uniform conditions. Thanks to the agreements ENEA will save PLN 3 mln.

The key strategy of the "Cash Management" Project is a comprehensive servicing of the whole ENEA Tax Capital Group by banks offering the best terms for the most advantageous price. The cooperation with PKO BP and Peako S.A. will enable the Group Companies consolidating cash flows and mutual financing with no necessity to bear the costs of commissions and interest. Additionally, it will ensure a comprehensive bank service, including an ancillary working capital facility in the amount of PLN 600 mln and a guarantee facility in the amount of PLN 100 mln for all the Group companies.

"Agreements give us a possibility of a maximally efficient cash management. The Companies will o longer need to search for funding individually beyond the Group, we will also deposit our surpluses together. It demonstrates we are able to work together, have common products and be  a partner for the world as the Group" – said Dalida Gepfert, Vice-President of the Board of ENEA S.A. for Financial Affairs.

In the future, the agreements will also bring real benefits to the customers of the ENEA Group. They will be able to make free cash payments in a total of 3,400 units in PKO BP and Pekao S.A. The key criteria which were taken into account when considering the offers was the price and level of the commission for accepting cash payments from Customers of ENEA CG's companies. Savings from a comprehensive settling of bank servicing on the level of the whole Group will total to ca. 92%, i.e. over PLN 3 mln during three years.