BZ WBK to expand in Warsaw and on mortgage market

During a press conference yesterday, Michal Gajewski, a Bank Zachodni WBK (BZ WBK) board member, announced that his company plans to double its market share in Warsaw to reach 10% by the end of 2005. BZ WBK plans a 5% increase in loans and deposits of its Warsaw-based branches, as well as to increase its mortgage loans from the current zl. 127 million to zl. 150 million. During the past two years the bank spent zl. 17 million on opening 19 new branches in the capital alone, and now has a total of 432 branches across the country, including 42 in Warsaw. Bank representatives said they do not plan opening more outlets until 2005, which is the estimated date for a return on its invested capital. (Puls Biznesu, p. 5; www.onet.pl) A.K.