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Record profits mean good news for PKO BP shareholders

Bank PKO BP is planning to pay out a huge dividend of more than zl.600 million, as part of its zl.1.5 billion net profit in 2004.

"This is a record high result in the Polish banking sector. The management board will consider paying out 40% of the earnings in the form of dividends," said PKO BP president, Andrzej Podsiadlo. He went on to say that the institution would post an even higher result in 2005, but the growth rate of the earnings would not be two-digit.

In 2005 the bank will begin preparations to implement an integrated IT system, which will be introduced in 2006 and will require substantial investments in restructuring of its outlets. Podsiadlo added that in 2004 his institution managed to retain market share in all its segments.

(WBJ 15.ii.05)

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