Commerzbank intends to increase stake in BRE to 50%

Germany's Commerzbank intends to increase its stake in Polish BRE Bank to 50%. Currently, Commerzbank, which for 6 years has been the strategic investor in BRE, holds a 48.7% stake in the Polish bank, though it cannot include the profits of BRE as part of its consolidated balance. "Commerzbank representatives are considering the possibility of increasing the bank's stake in BRE to 50%," said president of Commerzbank Wojciech Kostrzewa yesterday. "However, no decision has been taken yet," he added. Commerzbank's decision to increase its stake may have been influenced by BRE's good financial results last year. The Polish bank doubled operating profits to zl 1.72 billion and recorded net profit of zl 665 million. BRE's plans for the coming year are focused on developing modern retail banking activities. (Prawo i Gospodarka, page 30) A.Z.