HSBC unveils its strategy for PKB

HSBC, which is close to buying Polski Kredyt Bank (PKB) from Kredyt Bank, will offer its services to retail clients in the fourth quarter of 2004 and to entrepreneurs from the beginning of 2004. Christopher Ignatowicz, the prospective president of the bank in Poland, announced investments amounting to tens of million złoty. HSBC's Polish branch will use the strategy applied by the British institution when it took over American retail bank, Household, back in November 2002. At the beginning, the new entity will offer loans for purchase from shopping malls, particularly stores selling white goods. "Our branches will most likely be located in major cities, but it will depend on where the clients will be," said Ignatowicz. Cash loans, credit cards and other products will be included into HSBC's offer from early 2004. The British bank received final clearance for the purchase from the Banking Supervisory Commission last Thursday. (Parkiet, p. 1) M.M.