BISE believes its good condition will attract new investor

The Bank for Social and Economic Initiatives (BISE) is again looking for a new investor after French Banque Populaire pulled out of becoming the bank's financial partner. "We are already in talks with several foreign institutions," said Wlodzimierz Grudzinski, BISE president, who declined to name any of them. The new shareholder can count on a controlling stake in our bank, as the Industry Development Agency (ARP) and Caisse Centrale de Credit Cooperatif the present largest shareholders, have nothing against another party taking control. BISE is thinking of issuing new shares worth around zl. 100 million if the new investor agrees. This sum would allow the bank to progressively develop for three to four years. "The bank is in a good financial condition, but we need more capital to grow more dynamically and reach our potential," said Grudzinski. At present BISE is waiting for its merger with Cukrobank to be registered in the court, which would raise the value of its individual clients' deposits to zl. 680 million. (Puls Biznesu, pp. 1, 8) A.D.