BGK gets into housing

So far the bank's main focus was dealing with money for governmental programs, as it is managing the budget funds for social housing. Now, with demand outstripping supply and flat prices spiraling, BGK wants to intensify its commercial operations. With a limited number of local branches necessary to reach individual clients, BGK is aiming its offer at significant investors and developers from Kraków, Wrocław, Poznań and Tri-City. In Warsaw, BGK has offered a loan to Prokom Investments for the Królewskie Przedmieście residential project. Prokom has zł.60 million to spend as the scheme proceeds. The loan has to be paid back by December 2009.