BZ WBK's H1 profit exceeds all expectations

In H1 the bank posted a net profit of zł.281 million, which is 13% more than in the respective period of last year. "Our portfolio of loans for individuals is increasing. In terms of cash loans it increased by 40% to reach zł.337 million. In terms of mortgage loans we had a record high result in June when we granted loans worth zł.106 million," said Jacek Kseń, president of BZ WBK. He admitted that in previous months the result in this segment was substantially smaller. "All large banks complain about the sluggish market in the sector of corporate loans, but some of them compensate for this situation with an aggressive policy on the retail market. BZ WBK is not aggressive," said Robert Sobieraj, an analyst with Erste. The president of BZ WBK added that due to lack of its own capital needs, the bank is thinking about paying out a higher dividend in 2006 in comparison to 2005 when the institution designated 40% of its profits for this purpose. (Puls Biznesu, pp. 1, 9) M.M.