RBP plans 20% growth without resorting to mergers

Despite its 11% solvency ratio is at the level, the bank envisages a capital injection. "We will receive it from our Austrian owner – Raiffeisen International. We will get around zł.80 million," revealed the RBP president Piotr Czarnecki. It means that the bank's equity will grow by 10%. Our assets grew by 33% during Q1 in comparison with Q1 2004, which is mostly the result of a 14% increase in loans granted by the bank. "Our aim this year is to maintain a growth of 20-30% in each market segment. I believe we will manage to maintain a 30% growth of assets," declared Czarnecki. If the company's forecast is fulfilled, the bank may close the year with a net profit of over zł.200 million. RBP plans to develop organically since it does not see any other institution it could merge with. "I think that the merger of UniCredito with HVB will stimulate other mergers on the Polish market. While the others are doing this, we will use this period for more aggressive conquering of the market," declared Czarnecki. (Puls Biznesu, pp. 1, 9) E.B.