Bank BGŻ's new share issue attracts interest

The president of bank BGŻ Jacek Bartkiewicz announced on Tuesday that four entities were interested in purchasing his bank's new stock which, according to Parkiet sources, could include Belgian KBC. He added that one or two offers would be chosen by mid-June, which should result in concluding the process of increasing the bank's share capital by July. After the transaction, 20% of the shares will belong to cooperative sector, 28% to investors and roughly 52% to the State Treasury. Bartkiewicz also informed that the bank would be floated either in the second half of 2005, or at the beginning of 2006. BGŻ posted a Q1 net profit of zł.56.4 million, which signifies an increase of 20.5% over the same period last year. (Parkiet, p. 3) M.M.