A year ago, the head of Eurobank EFG group assured investors that the business in Poland would come out of the red in the first quarter of 2008. Polbank EFG which launched operations in February 2006, had EUR 1.8m of net income in the January-March period.
“We said we would be profitable and so it is”, Kazimierz Stanczak, Polbank general director commented.
He promises it will be similar with other plans.
Polbank EFG promises to be Poland’s fifth largest bank in 2012. Today, it has
21st position in the ranking. At the end of the first quarter, Polbank EFG had 3
percent of the market of retail credits. It should increase the stake to 6
percent to be in the first fifth.