Poczta Polska struggles to get a grip on its Bank Pocztowy

Contrary to expectations, the capital of Bank Pocztowy (BP) will be increased later than envisaged, decided BP directors. In accordance with the management board plan, BP's capital was to be increased by the end of last month by zł. 80-100 million. "The capital increase will take place three months later. However, the decision on the bank's new development strategy has to be taken before that," said BP's president Andrzej Szukalski. A three-year strategy drafted by the management at the end of 2002 envisaged computerization of the bank as well as expansion of its branch network. The management also intended to use 8,300 branches of Poczta Polska (PP) to sell BP's products. "The idea to provide BP's service in PP branches was a mistake. The services should be provided by PP's employees specially trained for that purpose," said PP deputy general director Ryszard Pidek. (Puls Biznesu, p. 6) A.Z.