BRE beats forecasts, posts best results in four years

The gross profit of the financial institution amounted to zł.338 million, and therefore exceeded company forecasts, which had even been increased recently. Despite such a positive financial standing, the shareholders in the corporation still have to wait to benefit from the earnings. "If we cover the losses from the previous years, we will want to pay out a dividend. If we manage to fulfill the goals for this year, the losses will be covered," said BRE Bank's president, Sławomir Lachowski. This year the banking group expects to see a gross return on capital of 18%, a costs-to-income ratio of 66% and a gross profit of zł.380 million. According to analysts, this figure should stand closer to zł.400 million. Company representatives said that corporate loans are to increase this year by 10-20%. The retail banking arms of BRE, mBank and MultiBank, are to acquire 300,000 new customers in total. (Parkiet, p. 3; Puls Biznesu, p. 12) A.K.