Deutsche Bank not to increase capital of DB 24

The capital of bank DB 24 will not be increased either this year or next as the bank is expanding slower than its management and shareholders had planned. Last year DB 24 generated a zl. 13 million net profit - 53.9% more than in 2001. "The economic situation in Poland is so difficult that I will refrain from forecasting DB 24's profit for this year. I think that if we reach 20%-30% profit growth this year, it will be a success," said DB 24's president Marek Kulczycki. Due to the economic slowdown, DB 24's investor Deutsche Bank decided not to increase its capital this year, even though it had envisaged an increase of zl. 200 million. In view of this, the bank may also fail to cover its losses from previous years, inherited from Bank Wspolpracy Regionalnej. (Puls Biznesu, p. 6) A.Z.