Bank BPH continues its earlier strategy

APA - Austria Presse Agentur
26-06-2006, 14:39

Warsaw (Puls Biznesu) – The bank is still implementing its strategy although it may be modified by its investor – Unicredit group – in the near future.

Warsaw (Puls Biznesu) – The bank is still implementing its strategy although it may be modified by its investor – Unicredit group – in the near future.

 Bank BPH promises another record year.

“First quarter results, as well as those generated in April and May, show that we are going to have a very good first quarter. I see no dangers in the second one so it may be another record year for the bank”, Jozef Wancer, Bank BPH CEO said.

Analysts have no doubts here as well

“The strategy of Bank BPH in these economic circumstances turned out to be much more effective than this adopted by Pekao. Bank BPH is the most dynamic bank, the most effective one, the one which fights for every market. I believe it will have PLN 1.2 billion of net income this year”, Marcin Materna, Millennium DM brokerage analyst commented.


The head of Bank BPH believes that the future merger with Pekao is no reason for him to stop fighting for the market or keep the growth rate.

“The new supervisory board joined by Unicredit and Pekao representatives, which met last week for the first time, did not change strategic or financial goals. We are oblige to continue the previous strategy. The stronger Bank BPH is, the stronger the future Pekao and the future mini-BPH, are”, Jozef Wancer explained.

According to the agreement signed between Unicredit and the Polish government, 200 outlets will be separated from Bank BPH or BPH and Pekao jointly with headquarters and IT system (the so called mini-BPH). They will be sold to a new investor. The rest is supposed to be merged with Pekao.


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Podpis: APA - Austria Presse Agentur

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