Fortis Bank readys mortgage banking arm
Fortis Bank Polska, a corporate bank, plans to offer individual customers mortgage loans, the company has said.
The bank, which focuses on small and medium-sized business, opened its first outlet to handle the company's wealthy individual clients July 3 in Warsaw, and will open another five branches later this year.
"We are interested in wealthy clients, but it doesn't mean that the bank is going to transform into a retail bank," said Waldemar Leszczynski, spokesman for Fortis Bank Polska. "The bank will still realize its strategy for small and medium-sized businesses."
Owned 98.6% by Belgium-based Fortis Bank, Fortis Bank Polska recently changed its name from Pierwszy Polsko-Amerykanski Bank (PPABank) and moved its headquarters from Krakow to Warsaw. PPABank has been traded on the Warsaw Stock Exchange since 1994. The bank intends to offer four kinds of mortgage loans, with maturities varying from five to 15 years. All four loans can be drawn either in zlotys, U.S. dollars or euros.
The income for Fortis' individual clients cannot be lower than zl. 3,000 net a month.
