Shareholders decide that Budbank to be transformed into a mortgage bank

However, a final decision on the matter will have to be made at an extraordinary general shareholder meeting that is scheduled for August. Budbank is also contemplating issuing shares to help raise sufficient capital for future investments. The bank is conducting talks with an unnamed foreign entity, rumored to be Danish Nykredit, on the prospects of a possible strategic investor deal. Budbank is charged with administering the Mortgage Fund on behalf of the government at it branches, which are located in nine large cities across the country. (Gazeta Wyborcza, page 20)