mBank unveils new products early to keep ahead

E-banks are now beginning to intensely compete for e-clients following the PKO BP purchase of Inteligo from Bankgesellschaft Berlin. mBank, owned by BRE Bank, will introduce new products six months ahead of schedule so as not to fall behind its competitor. Slawomir Lachowski, the vice president of BRE Bank responsible for the development of services fears that, "The resources of PKO BP are far greater than those of Inteligo's previous owner." Indeed, the new management of Inteligo is already planning to introduce many new products by 2003. That is why mBank is hastening to expand its offer within the next two months with a financial plan of combining a bank account with a mortgage loan. Further, mBank will offer alternative methods of allocating deposits, and before the year is out, the first credit cards will be issued to mBank's clients. (Puls Biznesu, p. 9) A.C.