Plans to improve BPH PBK's good Q1 results further

In the first quarter, Bank BPH PBK generated a record net profit of zł. 104.3 million. The result was almost 80% higher than in the same period of 2002. Although the bank's management is very pleased with the result it publicly expressed that it intends to deprive its employees of bonuses as it wants to further improve its results. "We have achieved very good figures, however, they are not satisfactory enough. We have greater ambitions," said the bank's spokesman Jacek Balcer. In a letter to its employees, the bank's management stated that a this tight policy will be continued. "We are very sorry, but since the results are not close to the ones we envisaged, we will not be able to pay bonuses for the first quarter. Moreover, work efficiency will have to increase," said the bank's president Jozef Wancer. (Puls Biznesu, p. 7) A.Z.