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Bank Handlowy set for fantastic results higher than last year's zl.420 million

Bank Handlowy (BHW) plans to post a much higher profit in 2005 than it did last year when the figure stood at zl.420 million.

"Net profit will be substantially higher, even not taking into account the transaction regarding the disposal of TFI and the asset management company," said Slawomir Sikora, president of BHW. In the first half of the year the institution posted a profit of over zl.300 million.

The company's management will recommend leaving part of the profits in the institution instead of paying out the whole sum in the form of dividends. "This does not, however, mean a lower dividend per share," declared Sikora.

The bank is planning to accelerate its growth and it will require some surplus capital. It will focus on three basic segments - credit cards, fiscal operations and intermediation in selling financial products.

(WBJ 31.x.05)

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