Eurobanks to open more outlets and expand its range of financial products

This may result in the bank  posting profits for the first time since it was established in 2003. "We posted a loss of about zl.13 million in 2005. This year we expect to generate a profit of several million zlotys," said Slawomir Lukasiewicz, Eurobank president. In mid-2005, Eurobank acquired a new investor, French Societe Generale which bought 98.35% of its shares from LOOK Finansowanie Inwestycji. The investor is expected to add a further zl.100 million of capital. Currently, Eurobank owns 160 outlets. "We plan to reach the level of 200 outlets in the future, while this year the number is to rise to 180," said Lukasiewicz. The bank is also into talks with several financial intermediaries on launching franchise outlets. It is also preparing new products. "Our primary product will still be cash loans, but this year we want to introduce credit cards too. We are also working on launching very simple investment products," added Lukasiewicz. The worth of Eurobank's assets is currently in excess of zl.2 billion. Its president hopes that by the end of the year this figure will rise to zl.2.9 billion. (Puls Biznesu, p. 6) D.W.