Deutsche Bank 24 lowers annual profit forecast for 2002 to zl. 12 million

Marek Kulczycki, president of Deutsche Bank 24, forecasts this year's net profit at around zl. 12 million against the previously estimated profit of zl. 15 million. In Kulczycki's opinion, economic revival in the fourth quarter of 2002 will be weaker than expected, hence the lower forecast. "Despite the difficulties, we will try to achieve the best possible result and will maybe get closer to the border of zl. 15 million," said the president, adding that it is highly unlikely that Deutsche Bank Polska will merge with DB 24, which currently owns 40 branches. The bank is concentrating on servicing individual clients as well as small and medium companies. However DB 24 does not intend to expand its network of branches. Kulczycki claims that it depends entirely on the economic situation. In his opinion, the bank boasts well-developed Internet banking - launched in May 2002 and currently used by over 3,000 customers. (Parkiet, p. 3) A.Z.