Strong retail sales could make BRE fourth largest bank

"Already last year, one of our retail branches mBank posted a profit. MultiBank will also end this year in the black. We estimate this profit at zł.31 million gross," said Sławomir Lachowski, president of BRE Bank. The majority of the sum, zł.28 million, will be posted by mBank. Lachowski says the profit will be achieved early, as it is the fourth year of operations. Investment ou tlays on retail banking have so far amounted to roughly zł.350 million. By the end of the year both banks will allow BRE Bank to become one of the top financial institutions in Poland in this sector and maybe even take the fourth place in the country. By 2007 BRE plans to achieve a ROE of 20% and a ratio of costs to income below 60%. (Puls Biznesu, pp. 1, 4) M.M.