2004 was a record year for Kredyt Bank, says incoming CEO Ronnie Richardson

A decision was also made, according to which all of the 2004 profit, namely zł.185.2 million, will be devoted to cover the losses generated in previous years. However, due to the fact that total losses amount to zł.588.9 million, the remaining sum will be covered by reserve capital (zł.350.9 million) and the general risk fund (zł.52.8 million). Today, Ronnie Richardson, becomes the new president of KB, but his appointment will be official as soon as the Banking Supervision Commission clears his appointment. "In 2004 Kredyt Bank finalized its restructuring by achieving the best result in its history. This year should be even better. We also expect around a 15% rise in capital. We want to significantly improve our ratios," said Ronnie Richardson. (Puls Biznesu, p. 10) A.K.