Fears that cooperative banks may weaken BGŻ's position

The Treasury Ministry will do its best to come to terms with the minority shareholders of Bank Gospodarki Żywnościowej (BGŻ) decision to increase the bank's capital. Banking Supervision General Inspector Wojciech Kwaśniak fears the attitude of the cooperative banks may weaken the position of BGŻ. "Treasury Ministry representatives want to meet the cooperative banks this week prior to an extraordinary BGŻ shareholders meeting scheduled August 22," said Deputy Treasury Minister Barbara Misterska-Dragan. Increasing BGŻ's capital is an element of the restructuring program without which privatization will be difficult. "The bank's owners need to take rational decisions otherwise it will loose its position" said Kwaśniak. (www.onet.pl) A.Z