13th February 2004
Thursday, December 24th, 2009
Fortis bank sets its sights on mortgage market and SMEs
Fortis Bank Polska (FBP) is not planning any takeovers, but has money for this purpose if any interesting opportunity arises.
The institution will rather focus on mortgage loans and credits for SMEs. In 2003, the stock-listed bank posted a profit of zł.36.4 million, which was zł.5 million more than in 2002. "We have a ROE of 7%, but the standard in the Fortis group is 12%. This is our target, but it might not be reached in 2004," said FBP President Ronnie Richardson. The bank will make a decision concerning paying out dividends by the end of March. Fortis Bank will focus on improving its financial results, as its result on banking operations dropped by zł.25.7 million to zł.239.7 million, which was mainly due falling interests rates. (Puls Biznesu, pp. 1, 7) M.M.
From Warsaw Business Journal
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