BISE bank is in no hurry to be listed Warsaw

APA - Austria Presse Agentur
opublikowano: 21-10-2005, 10:58

(Puls Biznesu) - On November 9th, general shareholders' meeting will be held in BISE, a Polish bank 30-40 th in the ranking as far as own assets are concerned. Shareholders will decide Credit Cooperatif, BISE's French investor, to raise BISE's capital by EUR 5m.

(Puls Biznesu) - On November 9th, general shareholders' meeting will be held in BISE, a Polish bank 30-40 th in the ranking as far as own assets are concerned. Shareholders will decide Credit Cooperatif, BISE's French investor, to raise BISE's capital by EUR 5m.

It will allow us to increase our own funds to PLN 173m. Credit Cooperatif share will grow from 37.9 to 48 percent, Wlodzimierz Grudzinski, BISE CEO explained He added, there are no chances for BISE to be listed in the first quarter of 2006, a date suggested by Arkadiusz Krezel, the CEO of the Industrial Development Agency ARP, BISE?s second largest shareholder.

ARP would like us to be listed. However, preparing for the IPO is time consuming. I believe, the beginning of 2007 is more probable, Wlodzimierz Grudzinski said.

In the last two years, BISE had losses. This year, it plans to have at least PLN 3m (EUR 768,000) of net income.

(PLN 1 = EUR 0.256)

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Podpis: APA - Austria Presse Agentur

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