Fortis Bank Polska reportedly for sale at an estimated price of zl.1 billion

Dutch-Belgian group Fortis is looking to sell its Polish subsidiary Fortis Bank Polska. The Rzeczpospolita daily, which quotes unofficial sources confirming the report, estimates that a potential buyer could expect to pay as much as zl.1 billion for Fortis' 99.1% stake in the bank. Fortis Bank Polska has a network of 20 branches and last year recorded a profit of zl.10.4 million, down from zl.21 million in 2000. The Fortis Group acquired a strategic stake in what was then Pierwszy Polsko-Amerykanski Bank in 1999. (Rzeczpospolita, Mar. 2-3, p. B6) T.J.