What is behind Volkswagen Bank Polska's 2002 success?
Despite the economic slowdown and slackening car market, Volkswagen Bank Polska managed to grant 20,000 car purchase loans worth zl. 540.3 million. At the same time, the net value of the bank's loans to individuals and companies in 2002 was zl. 1.1 million, which is up 22% on 2001 while its bad debts rate remained unchanged at 9%. At the end of 2002 Volkswagen Bank direct had around 15,000 accounts with zl. 395 million deposits. The bank's balance sum at the end of last year was zl. 1.4 million, which is 39% higher than in 2001, while its net profit was zl. 31.5 million. This means that its ROE was 28.3%. At the same time the bank's partner, Volkswagen Leasing Polska, signed 2,700 leasing contracts totalling zl. 138.3 million and Volkswagen Serwis Ubezpieczeniowy's sales grew by 14% on 2001. The latter company signed 60,400 contracts, recording revenues of over zl. 22.5 million. (Gazeta Finansowa, March 15-21, p. 7) J.K. IT News: Stoen Info Internet via power lines; Computerland; Unisys; Ster-Projekt STOEN INFO, owned by Warsaw energy distributor STOEN, is the first company to provide access to the Internet via power lines and electricity sockets via PowerLine Communications technology (PLC). (Teleinfo, March 10, p. 7) ... COMPUTERLAND (CL) has been granted permission from the Office for Competition and Consumer Protection (UOKiK) to take over Poznan-based Projekty Bankowe Polsoft (PBP). CL has already paid PBP's shareholders Bank Zachodni WBK and IB Polsoft, and now 100% owns PBP. (Teleinfo, March 10, p. 4) ... UNISYS has signed a $9 million contract with PTK Centertel under which the former will provide professional system integration services and consulting. Additionally, Unisys will implement so-called Enhanced Messaging Solutions. (Teleinfo, March 10, p. 7) ... STER-PROJEKT has received the "System Integrator of the Year 2002" award from Cisco Systems Poland. The award at the same time is a nomination for the Eastern region EMEA prize. (Teleinfo, March 10, p. 4) A.Z.
