Spanish CC-Bank launches loans

Spain's CC-Bank yesterday launched operations in Poland, but for now can only offer loans. However this may soon change as the bank's owner, the Banco Santander Hispano (BSCH) capital group, is currently in negotiations with BPH PBK concerning the acquisition of Gornoslaski Bank Gospodarczy (GBG). Although a takeover proposal was also sent out to Raiffeisen, the Spanish are holding talks which may be finalized during this half of 2003, Puls Biznesu reports unofficially. "We are aware of the fact that our owner is planning the acquisition of another bank in Poland, but we are not waiting for the results of these negotiations. We will concentrate on granting loans, beginning with car loans," said Wojciech Gluszczak, head of CC-Bank's sales department. The company does not intend to open any branches, though. The offer will be available via the Internet, at car showrooms and through agents. By the end of this year the bank plans to create a network of 250 partners. (Puls Biznesu, p. 6; Rzeczpospolita, p. B7) A.K.