Banking sector reports zl.4.4 billion profits in 2000 led by Pekao and PKO BP

The banking sector recorded a total net profit of zl.4.4 billion last year, 28% higher than in 1999. The two largest retail banks, Pekao S.A. and PKO BP, were also the profit leaders, with net earnings of zl.763 million and zl.753 million respectively. Meanwhile, BRE Bank, which specializes in servicing corporate clients and investment banking activities, came third with net profits of zl.356 million. Fifteen out of the 73 commercial banks operating in Poland last year recorded losses, while in 1999 the figure had been 10. (Rzeczpospolita, p. B4) T.J.