Banks dispute reports and say they are ready for Y2K

The banks rejected opinions issued by several brokerages that some of the larger institutions were prone to failure. In its report, which was completed at the end of January, Dresdner Kleinwort Benson Research cited Pekao as the bank with the highest exposure citing a 30% chance of its systems melting down Jan. 1, 2000. But Pekao last week said the chance of that happening is slim to nil. Behind Pekao, Dresdner also tagged Kredyt Bank PBI with a 28.5% failure rating. On the safe end of the scale was Bank Slaski, with 5% probability, and Powszechny Bank Kredytowy (PBK) with 9.3%. Representatives at the other banks say that the investment bank's conclusion is outdated and inaccurate. (Warsaw Business Journal, page 1)