The Nord/LB Polska bank, which serves small- and medium-sized companies (SMEs), made a profit of almost zl.5 million (Ђ1.125m) during the first half of this year, nearly four times more than it earned during the whole of 2003.
The outstanding results came from expanding credit portfolios and the growing value of deposits. This year Nord/LB Polska will invest as much as zl.15 million, most of which will be spent on an internet banking system to be launched in the fall. The company also plans to expand its operations from its current single branch to six and to boost the return-on-equity ratio from 6 per cent to 15 per cent.
"Our aims are increasing efficiency and doubling our assets each year. We want to be a medium-sized bank with a very strong position in the market serving SMEs co-operating with our German owner Nord/LB," said Nord/LB Polska's president Jarosіaw D№browski.
Source: Puls Biznesu
