Kredyt Bank records losses of zl. 9.6 million despite increased deposits

In the second quarter of this year, due in part to the exclusion of Polish Kredyt Bank (PKB) from the group, Kredyt Bank recorded a loss of zl. 9.6 million. "Because of this, it will be more difficult to achieve a net profit of zl. 200 million," said Stanislaw Pacuk, the bank's chairman. The poor results also contributed to losses among companies in Kredyt Bank's capital group (PTE Kredyt Bank, Agropolisa). Despite a weak market situation, Kredyt Bank still had good results in its core activity. The bank increased its lending by 36% and its deposits by 11%. To cut costs, Kredyt Bank has decided to reduce employment, with 500 to be dismissed this year - so far 200 have lost their jobs. In October, the bank should complete the implementation of the "Profile" central IT system which will replace a large number of the staff. But at the same time, the bank has embarked on new investments - implementing call centers and e-banking. Last week Kredyt Bank also bought an 8.7% stake in Optimus which, according to the bank, is a very safe investment though the chairman did not reveal the reasons behind the purchase. (Parkiet, p. 6) A.L.