PKO BP reports net profit of over zł. 1 billion last year

"From initial estimates we can state that the profits will significantly exceed 40% of the financial results of the whole banking system in Poland and will be the highest in the sector," announced bank president, Andrzej Podsiadło, adding that 2004 also seems promising but did not reveal whether forecasts also envisage a two digit increase. Podsiadło said that the bank is interested in the acquisition of Kredyt Bank Ukraina, as part of a wider strategy which is to lead to expansion into the Central and East European region. PKO BP is targeting banks with positive financial results, which have non-sector investors, who do not have a scheme of development for the institutions. Such plans require significant capital, and therefore Podsiadło plans to keep the profits recorded last year within the bank, however the final decision is up to the Treasury Minister. (Puls Biznesu, pp. 1, 9; Parkiet, p. 3) A.K.