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BRE Bank deposits drop

30th October 2008
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BRE Bank expects slow down in deposits and sale of mortgage loans

Polish BRE Bank has decided not to publish its strategic plans for 2009-2011 along with Q4 results as planned in November due to the unstable situation in the world markets. Mariusz Grendowicz, chief executive at BRE bank told reporters that he'd rather wait until the situation stabilizes.

The bank has also seen a drop in the daily growth of deposits by about 50 percent in the first three quarters, citing client uncertainty.

Meanwhile, Grendowicz doesn't forsee problems in obtaining credit loans, however he told TVN CNBC that the sale of mortgage loans will slow down in Q4 compared to Q3.

Sources: Reuters, TVN CNBC


From Warsaw Business Journal

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