The net profit of Bank Pekao is forecast to be higher than the zlotys 919 million generated last year, though it will not exceed the record level of zlotys 1.26 billion posted in 2001, the bank’s president Jan Krzysztof Bielecki said last week.
A good 2004 result is expected to stem from the economic recovery coupled with EU membership and the changes in the regulations governing banks’ reserves” he said.
Bielecki added that his bank intends to increase the value of its mortgage loans portfolio at least by one third. “Consolidation is a trendy topic to discuss nowadays, however, I think that the financial reserves of our bank are substantial enough to ensure our expansion at a reasonable rate and organic development,” Bielecki concluded.