Deutsche Bank Polska posts good Q1 results

The president of Deutsche Bank Polska (DBP) Krzysztof Kalicki announced that his institution will emphasize organic growth, and plans to produce similar profit to last year when it made zł. 59 million. The bank, servicing corporate clients and providing investment advisory services, made a net profit of zł. 12.8 million in the first quarter, which was 18.5% higher than the corresponding period last year. The president announced that DBP planned to keep the return on capital at a level of 12-14%. "Despite the fact that investment banks and interested financial institutions contact us, we are not interested in consolidating the domestic market, as the condition of the European economy is not favorable," added Kalicki. DBP plans to concentrate on developing its cooperation with financial institutions, namely banks and insurance companies, which may, however, slow down its growth compared to last year. It also intends to increase its balance sheet total by 10% to over zł. 5 billion. (Puls Biznesu, pp. 1, 7) M.M.