The Polish unit of Austrian bank Raiffeisen secured a Ђ165m syndicated loan to finance its growth in small-and medium-sized enterprise (SME) lending, Raiffeisen Polska President Piotr Czarnecki told.
"The money from the loan will be spent on general activities of the bank, but we are focusing on the SME sector and that's where the majority of the money will go," Czarnecki told reporters. "I would expect more than two-thirds of the loan to be spent on financing companies with yearly revenues starting from PLN 3m to PLN 80m."
The bank, which plans to maintain its growth dynamics both this year and next year, plans to address a wider array of companies with its offer in 2005 and enter a small and micro companies segment, with yearly revenues below PLN 1m.
