PKO BP Bank sees record profits

The first half of 2006 proved to be a record period for PKO BP bank in terms of sales of retail products. "In H1 2006, retail banking generated over 50% of the bank's profit", said the bank's deputy president Jacek Obłękowski. "I cannot say how much profit we posted yet, but it is going to be a record", he added. According to some analysts, PKO BP's profit in H1 may have exceeded zł.1 billion. Most of the bank's revenues come from loans. In H1 the value of mortgage loans granted by the bank amounted to zł.4.9 billion, which marks a growth of 40% as compared to the same period last year. It means that the bank is a market leader in this field, with a 30% share in the market. "June was a record month", stated Obłękowski, "the value of the loans granted amounted to zł.1.1 billion". Obłękowski believes that it is possible to maintain 40% growth of this type of loan over the next several years. He hopes to increase sales of consumer loans and loans granted to small enterprises, and also emphasized that the bank may develop on the credit card market. (Puls Biznesu, pp.1, 8) E.B.