Bank Pocztowy's shareholders may be too weak to guarantee its future

Bank Pocztowy (BP) will not merge with bank PKO BP, as PB intends to continue as an independent enterprise. This however still means that it will have to quickly find additional capital to help assure its future. There appears two broad options for the bank. It can either seek to raise capital alone, or look for an investor. PB not only lacks sufficient capital to allow it to grow, but also does not have a clear concept about how it should fulfill its potential. Another pressing problem is general staff inefficiency. "Right now we are in the final stages of writing a three year development strategy," said BP's new president Andrzej Szukalski. "It would be easiest if we could double shareholder's funds, but a 50% increase to around zl. 150 million is the only thing we can realistically expect from our current shareholders, Poczta Polska and Prokom. If our shareholders come to the conclusion that they are incapable of supporting the bank then they will have to consider an option of finding a third investor. Although foreign financial institutions are interested in our bank, the Treasury Ministry would prefer if we remain a bank with Polish capital," said Szukalski. (Puls Biznesu, p. 4) A.Z.