Savings Associations post surprisingly good results

This was quite an impressing result as compared to 2003 when the figure was zł.14.2 million. The current figure is comparable to the results of a medium sized bank, such as BNP Paribas dealing in corporate banking. The total 2004 revenues of the SKOK network were zł.742.7 million, a 12% rise as compared to 2003. Total costs reached zł.707.4 million and were 9% higher than in the previous year. The assets of all SKOKs amounted to zł.4.2 billion, a 27% rise over 2003. The loan portfolio was worth zł.2.85 billion and saw a rise of 29%. In 2004 there were 1,500 SKOK branches throughout the country. (Parkiet, p. 9) D.W.