Smooth, profitable sailing at GE Money Bank

"We will, as in previous years, recommend leaving the profits in the bank. This will provide funds for development and investments without the necessity of capital injection," said Mariusz Karpinski, president of GE Money Bank. The institution plans to maintain profitability on par with its 2005 results, when ROE exceeded 28%.GE Money announced plans to strengthen its range of products and its sales network. It is introducing, among other things, units of other financial groups' investment funds, but it will not allow opening bank accounts or deposits for the time being. "Our strategy does not envisage such a move,"said the CEO. In 2006 the bank focused on mortgage loans and introduced a new loan offer. By the end of August this year it had granted loans of zl.1.8 billion, which ranked it fourth on the market. The bank is planning to grow by 80% in this segment, compared with 2005, and thus mortgage loans should amount to zl.3 billion in 2006. (Puls Biznesu, pp.1, 13) M.M.