Bank Pekao is upbeat about its 2004 prospects

A good 2004 result is expected to stem from the economic recovery coupled with EU membership and the changes in the regulations governing banks' reserves" he said. Bielecki added that his bank intends to increase the value of its mortgage loans portfolio at least by one third. "Consolidation is a trendy topic to discuss nowadays, however, I think that the financial reserves of our bank are substantial enough to ensure our expansion at a reasonable rate and organic development," Bielecki concluded. (www.biznes.onet.pl) A.Z.