Poland's Pekao to pay $59 mln for SK Bank's bankruptcy fund

WARSAW Nov 25 Bank Pekao SA, Poland's No.2 lender, will have to pay about 234 million zlotys ($58.6 million) into a state bank guarantee fund to cover the bankruptcy of small lender SK Bank, the bank said late on Tuesday.

The UniCredit's Polish unit said the fee will have an impact on its results in the fourth quarter of this year.

Poland's KNF financial regulator submitted a bankruptcy filing on Monday for SK Bank, which has about 3.5 billion zlotys of assets. Under Polish law, other banks have to cover the liabilities of failed peers.

In a separate statement, Millennium, the Portuguese BCP's Polish arm, said its contribution to the fund would amount at around 106 million zlotys.

Pekao and Millennium's announcements followed those by other Polish lenders, including the biggest, PKO BP. ($1 = 3.9943 zlotys) (Reporting by Agnieszka Barteczko; Editing by Anand Basu)

.