Softbank confident of good results for 2003

Thanks to restructuring, Softbank hopes to upgrade its consolidated result for 2003. The bank is also preparing for a contract with PKO BP, under which it will supply an IT system to the retail bank. "The financial performance of Softbank, after the first half of 2003, reflects the results of the restructuring. We expect the consolidated net profit will be better than last year," announced the director for investment relations, Łukasz Grochowski. At the end of 2002, due to high reserves, Softbank generated zł. 154.7 million in net losses. The operational loss amounted to zł. 28.4 million. Softbank announced yesterday that for the first half of this year, the group had posted zł. 0.04 million in profit as compared to a zł. 9.8 million loss for the corresponding period of 2002. (Parkiet, p. 3) A.Z.