Poland's biggest non state-owned bank, Pekao SA, has pledged that its shareholders may expect some good financial results after the second quarter of 2003.
The bank also plans to increase its control of the market of small and medium sized enterprises (SMEs) from 23 to 30 percent. Currently, the loans granted to SMEs constitute 16 percent of the total value of Pekao's credit action.
The bank's deputy chief executive, Cezary Smorszczewski, says there is a revival in the market and he expects more intense economic growth in the third quarter of the year.
The president of Pekao SA, Maria Wisniewska, has said the bank will post a double-digit net profit increase rate. In the first quarter of 2003 the bank had ZL256m in net profit, a rise of 12 percent against the same period of 2002. "We have managed to increase revenue in insurance and investment funds," Mr Smorszczewski said.
Source: Polish News Bulletin
