PKO generates zł. 722.5 million in net profit and is optimistic of WSE debut

Bank PKO BP has not been hit by the impact of the crisis complained about by the banking sector recently. In the first half of this year, the largest domestic retail bank generated a net profit of zł. 722.5 million, and stands a good chance of achieving its envisaged financial result. In comparison to Q2 of 2003, Q1 was much better and the bank posted a net profit of zł. 392 million. The bank's president, Andrzej Podsiadło, said that in the first half of 2003, the bank's reserves increased by zł. 60 million. "I think that such results bode extremely well for the bank's debut on the Warsaw Stock Exchange. If investors get a discount, it is beyond question that the bank's shares will sell immediately," added an optimistic Podsiadło. (Puls Biznesu, p. 7) A.Z.