BRE projects 2001 net profit 14% higher, announces retail banking plans

Bank Rozwoju i Eksportu (BRE), one of Poland's top corporate banks, forecasts its net earnings for 2001 will rise by 14% year-on-year, reaching zl.404 million, or zl.50 million more than in 2000. The bank also predicts that its return-on-equity (ROE), a key ratio used to measure company profitability, will total 20.2%, while its capital adequacy ratio has been pegged at 12.8%. BRE's forecast is based on the assumption that the bank can increase its individual account deposits and maintain a 20% return on capital investments. The bank also announced plans to expand into the retail banking sector in the middle of this year; launching a network of 30-50 branches under the name Multibank. (Prawo i Gospodarka, p. 8) M.T.