BISE bank to spend PLN 100m for three purposes

APA - Austria Presse Agentur
opublikowano: 02-10-2006, 13:14

Warsaw (Puls Biznesu) – The bank will raise money on the stock exchange to win SME, develop distribution and protect its market share.

Warsaw (Puls Biznesu) – The bank will raise money on the stock exchange to win SME, develop distribution and protect its market share.


In the first half of 2007, BISE, one of Poland’s smallest banks, will be listed on the Warsaw Stock Exchange.

“At the beginning of the year, a GSM will be held to decide about the details of the issue. The first listing could be possible in May 2007. We want to raise PLN 100m (EUR 25.2m)”, Wlodzimierz Grudzinski, BISE CEO said.

Credit Cooperatif, BISE’s biggest shareholder with 47 percent stake is not going to lose control over the company.

“The investor has already said he wants to have influence on BISE. It has just received the approval of the banking authorities to have over 50 percent of votes during the GSM”, Wlodzimierz Grudzinski explained.


The CEO enumerates several reasons why the company needs money.

“We want first of all to increase our engagement in the SME sector, protect our share on the market of real estate managements and local governments and strengthen our distribution network”, Wlodzimierz Grudzinski said.

BISE wants to double the number of its SME clients to about 14,000 companies. The bank is a leader on the real estate managements market. It has 46 outlets, plans to launch four others. The management will propose to pay out dividend in three years’ time.

(PLN 1 = EUR 0.252)

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Podpis: APA - Austria Presse Agentur


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Puls Inwestora / BISE bank to spend PLN 100m for three purposes