Bank BPH's 2004 results and ambitions for 2005

This means that the bank has succeeded in further strengthening its third position among the top banks - right after PKO BP and Pekao SA. Despite the positive news, the company's bourse standing only rose by 1% on Thursday, mainly because investors expected such figures. The bank's management has not yet revealed if it is going to pay out dividends higher than those in 2003, when it was zł.8.7 per share. "I can only say that our investors will certainly be satisfied," said Józef Wancer, Bank BPH president, adding that, "We want our 2005 profit to reach zł.1 billion." The bank's strategy encompasses posting a 20% net return on ROE capital by 2006, against the present 14%. As in 2004, this year the company plans to boost profits mainly from an increase in granted loans. "Analysts believe that the market for loans will grow by 10% this year. We plan to grow even faster," said Wancer. (Puls Biznesu, p. 8) D.W.