UBS eyes Krakow for its service center

28-05-2007, 10:12

Warsaw (Puls Biznesu) – The Swiss bank considers investment in Poland. The government hesitates with giving it a subsidy because the bank is rich but on the other hand it would be great to have UBS in  Poland.

 

UBS, investment bank listed in Switzerland, Tokyo and NYSE which today has only sales office in Poland, considers launching a service center in Krakow.

“We are looking for a suitable place in Eastern Europe but no decision has been made yet”, Sabine Woessner, UBS spokeswoman said.

“This is a project worth PLN 21m (EUR 5.5m) creating 250 jobs. For the time being, different processes are being considered”, “PB” source revealed.

Poland fights for the project with the Czech Republic. Decision should be made within a month.

 

Meanwhile a government committee responsible for subsidies for important investors failed to take decision concerning UBS last week. The bank hopes for below PLN 2m of incentive.

“This project is not innovative enough. Besides, banks are rich”, a state official said.

However, UBS which is the leader on the retail and corporate banking market in Switzerland, has no bank in Poland. The committee has recently decided to support the investment by Credit Suisse in Wroclaw but refused to help ABN Amro at its project in Warsaw.

 

UBS has 80,000 employees around the world. Last year, it had nearly CHF 47.2 billion of operating income and CHF 11.2 billion of net income.

(PLN 1 = EUR 0.262)


 

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