Following appalling figures ING BSK turns on the PR

In the second half of the year ING BSK should improve its financial results after it posted only a zł. 9.7 million net profit after the first six months of 2003. According to the bank's president Marian Czakański, a substantial improvement in the figures should be expected in 2004 and the downward trend in its operating activity results be stopped. He added that the figures wou ld be affected positively by the anticipated economic revival, which would improve the condition of its clients and increase the value of loans given. In the second quarter of 2003, ING BSK was continuing to create huge reserv es, as the share of irregular debts increased to 31.1% by the end of June. In the meantime, BRE Bank president Wojciech Kostrzewa stressed that compar ing figures for the first and second quarter of the year was signaling econ omic revival. The institution posted a zł. 171 million net profit in Q1 and zł. 262 million in Q2. Kostrzewa sustained the 2003 forecast of over 5% ret urn on capital for BRE, but he refused to say whether second half of the ye ar would be better. (Rzeczpospolita, p. B5) M.M.