ING BSK searches for investor; analysts claim profits remain too low

The ING group of Holland is looking for a partner for its ING BSK domestic retail bank. Marian Czakanski, bank chairman admits that the bank's last year results were disappointing, with zl. 97.1 million of net profit while analysts say this should be at least zl 300 million for a bank this size. The Dutch group treats Poland as their third - after Holland and Belgium - important market. After having invested in Bank Slaski they are now ready to present a concrete offer to other banks. At present there are rumors that ING wants to merge with Bank Zachodni, WBK, or with LG Petro Bank, have not been confirmed. Czakanski says they are mainly thinking about expanding in the Warsaw, Wroclaw and Poznan areas. They are also planning to increase their liquidity on the market and to pay 20% of the profit as a dividend. (Puls Biznesu, pp. 1, 6, 7) A.D.