Nord/LB Polska gets green light for development strategy

German group Nord/LB has accepted the development strategy of its subsidiary in this country, Nord/LB Polska. "This company will become one of the 10 largest corporate banks in Poland by 2007. It will also become the largest of our banks in the Baltic region and become one of the top three most efficient foreign subsidiaries," said Guenther Dunkel, president of Nord/LB Polska's supervisory board. The institution should achieve a 15% ROE, while the ratio of its costs to revenues should drop below 50% by 2007. By the fall, Nord/LB Polska will offer electronic services to its clients and it is envisaged that the bank's development will be further enhanced through the opening of new outlets. "We intend to service 500 companies within 3-4 years, while currently we provide services to roughly 100," said Jarosław Dąbrowski, Nord/LB Polska's president. (Puls Biznesu, p. 12) M.M.