Invest-Bank generates half year net profit of zł. 10.7 million

In the first half of this year, Invest-Bank generated zł. 10.7 million in net profits, which is close to the zł. 11.6 million scheduled to be made for the entire year. The bank plans to continue its cost restructuring program and finish implementing the Profile IT system. Last year, the company made its first profit (totaling zł. 18.5 million) since the institution was taken over by media group Polsat. The entire amount was spent on increasing the share capital of Invest-Bank, which now stands at zł. 269 million, while its solvency ratio is 19%. Rzeczpospolita has learned from the bank's president, Grażyna Niewolik, that according to its restructuring strategy, the institution needs an injection of zł. 40 million, which will happen in 2005. She also added that most of the money might be obtained through the floatation of the company. (Rzeczpospolita, p. B7) M.M.