PKO BP maintains high profit forecasts of zl. 1.08 billion

Poland's largest retail bank, PKO BP, has maintained its forecast to increase net profit by zl.0.6 billion to zl.1.08 billion this year. The bank's chairwoman, Henryka Pieronkiewicz, has attributed PKO BP's net profit of zl.500 million, six months into 2001, to the restructuring program, a more effective credit portfolio and the effects of cost rationalizing, such as the sale of less commercially-viable outlets. Last week the Treasury Ministry announced a tender for an advisor to the PKO BP privatization for the second time this year. The state will, however, retain a controlling stake in the bank. (Puls Biznesu, p.5), M.T.