New investments should see Nord/LB gain new markets

"We have been creating it for 3-5 years. We are planning to enter new markets. We are particularly interested in small and medium-sized enterprises," stated the company president Jarosław Dąbrowski. He admitted that the bank would have to start from scratch unless its German-Scandinavian investor DnB Nord decides to make acquisitions. In 2006, Nord/LB will invest zł.12 million in the development of its network, increased employment and product development. "We want to develop products that allow our customers' assets to be managed as well as factoring, transaction and treasury banking. Our aim is to maintain the bank's growth at a level similar to 2005 i.e. 50%," declared Dąbrowski. The bank wants to close the year with a zł.18 million net profit. It also plans to maintain a high rate of investment expenditure until it enters the top ten banks offering services for companies. The company's net profit in 2005 almost doubLed in comparison with 2004 and amounted to zł.12 million, while the company's assets increased by over 64% to zł.1.9 billion. (Puls Biznesu, p. 8) E.B.