ING BŚ posts record result and to pay massive dividend

"Economic revival and the improvement of the financial condition of our customers influenced the good result. The bank managed to achieve success on the deposit market. The result on banking activity amounted to almost zł.1.7 billion and was 10.7% higher than in the previous year," explained Brunon Bartkiewicz, the president of ING BSK. He added that the restructuring of the loans portfolio also contributed to the record result. The bank, which usually earmarked 20% of its profit for dividends, decided to increase the figure to 40%. ING BSK plans to spend as some of its reserves and as much as zł.147 million from its 2004 profit on dividends, which will amount to zł.20.50 per share. The market reacted positively to the news with the company's share price rocketing by 6.2%. (Puls Biznesu, pp. 1, 9) E.B.