BRE Bank considers ditching Skarbiec Asset Management

Its owner, BRE bank (100% shareholder), is considering such a move as it is reviewing its assets from the point of view of return index. From this perspective Skarbiec did not improve its operational profit in 2004 in relation to 2003 as it earned in both periods just over zł.6 million. Moreover, BRE bank may be tempted to abandon Skarbiec in order to focus on distribution and not on production of investment products, which was the strategy adopted by its subsidiary mBank, that created Investment Funds supermarket. Despite admitting the group is thinking of the sale, BRE bank's president, Sławomir Lachowski, underlines no negotiations have been initiated yet. The probable buyer could the Italian insurance group Generali, while the estimated value of Skarbiec is zł.72 million. (Parkiet p. 1) M.G.