PKO BP privatization on schedule as experts say bank is clear leader

Disposing of the 30% stake in the bank will provide the state budget with zł.6 billion from privatization revenues. Analysts estimate that the share price will reach zł.17-20. PKO BP is the unquestionable market leader in the banking sector in Poland. The institution posted a zł.1.22 billion net profit in 2003, nearly half of the total banking sector profits of zł.2.5 billion for last year. Experts do not believe that any other bank could threaten PKO BP's position in the coming years. "Nobody has such a network and there are no signs that it could be created," said Andrzej Powierża, analyst with BRE Bank. He added that if rural areas prosper as expected then PKO BP might further strengthen its position. (Rzeczpospolita, pp. A1, B5) M.M.