Getin Bank mobilizes for action

Górnośląski Bank Gospodarczy (GBG) will go through major changes after its shareholders meeting on 13 August, which will take strategic decisions about the future of the bank. It is now clear that the name of the company will change to Getin Bank as GBG has became a part of the Getin Holding capital group controlled by Leszek Czarnecki. Shareholders will also vote whether GBG will take over Łódź based Bank Przemysłowy (BP), the restructuring of which will be supported by funds from the Bank Guarantee Fund. Getin will increase GBG's equity by zł.165 million this year, which will probably mean GBG's shareholders will vote to issue 30 million new shares covering 22.5% of the increased capital. The takeover of BP must be supported by not less than 75% of shareholders, that is why Getin has to work out a compromise with Kopex and Węglokoks, BP's main shareholders, or buy their shares. Apart from that, GBG plans to increase its capital by another zł.200 million in 2005. (Puls Biznesu, p. 5) D.W.