Raiffeisen Bank Polska foresees profitable year ahead

Raiffeisen Bank Polska expects this year's earnings to multiply 'several times' from profits of almost zł. 10 million posted in 2002, company CEO Piotr Czarnecki said yesterday. The company expects to improve its results mainly thanks to recently completed investments and increased sales. Last year Raiffeisen BP reached zł. 9.88 million in net profits against zł. 8.53 million a year earlier. However Czarnecki would not disclose any particulars as to the bank's financial forecasts for this year. The bank remains on the lookout for potential acquisitions after its failed attempts to take over Bank Pocztowy and Bank Zachodni two years ago. One of its potential targets, regional lender Górnośląski Bank Gospodarczy, was recently put up for sale by its parent company, BPH PBK. Focusing on SME's and high-income retail customers, Raiffeisen's Polish unit employs a total of 1,400 staff at its 62 branches nationwide. (Parkiet, p. 5) J.K.