Bank too weak for investments

Alan Heath
opublikowano: 13-04-2001, 00:00

Bank too weak for investments

Analysts have noted the failure of Kredyt Bank to offer investment bank services and say that it should now be dropped. They think that the bank should concentrate on retail banking in its reorganisation. However they comment that its position is also weak in the retail sector. Tomasz Stadnik, investment advisor at Credit Suisse Asset Management says that it is 'a second league bank'.

Market watchers expected something different when the Belgian KBC took a stake in Kredyt Bank, especially as the Belgians should have brought know how to Poland. However the chaos continues with companies being bought and sold willy-nilly with no clear policy in sight especially as some of these firms have seemingly nothing to do with the bank’s core business. Furthermore some of these companies are in difficulties themselves.

Kredyt Bank's retirement fund is losing money and analyst Marcin Wróblewski of DM WBK believes that it should merge with a better performer. It did however get rid of its life assurance arm Heros Life which lost PLN11m last year which was clearly part of a plan by KBC to build a banking and insurance wing in Poland.

Last year Kredyt Bank MD Stanisław Pacuk said that he would not look on whilst the rest of the sector consolidated, although not at any price. This proved to be correct in the fiasco of the bank's attempt to take over the smaller BOŚ bank.

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Bank , IT , Kredyt

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Puls Inwestora / Bank too weak for investments