BZ WBK record profit was not enough to satisfy investors

The banking group showed a net profit of zł.516.3 million, up 18% since 2004. The management decided to earmark zł.437.76 million, that is over 90% of the profit for dividends. This means that shareholders will receive zł.6 per share, as compared to zł.2.43 a year earlier. "The politics of our company is to devote 40% of profits as dividends. However, if the solvency ratio remains this year at a similar level to that of 2005, then the bonus for the shareholders might be higher," announced BZ WBK president Jacek Kseń. However, shortly after his statement the bank's share price fell by 3.5%. This was a result of the fact that the market expected the net profit to be almost zł.20 million more. The management of the bank ensured that the results for this year will be better. (Puls Biznesu, pp. 1, 9) A.K.