Fortis Bank seeks to unseat Raiffeisen in Poland

20. Juli 2006, 00:00

By the end of 2008 Fortis Banks assets are to exceed PLN 12 billion, according to the companys strategy

By the end of 2008 Fortis Banks assets are to exceed PLN 12 billion, according to the companys strategy. If realized, this would see it move from 17th place in the market to 11th, which is currently held by Raiffeisen.

"We will double assets within 24 months. Currently they exceed PLN 6 billion," said Bartosz Chytła, deputy president of Fortis Bank. Currently the most rapid growth is in retail banking, which is experiencing a 70 per cent increase in the number of loans granted, so that this area of the portfolio exceeded PLN 3 billion in value at the end of June. "We researched the market and prepared a strategy. We changed our offer and we are modernizing our retail banking system. We intend to double the network so that we have 60 outlets by the end of 2008," said Chytła.

The institution will also develop its offer for the SME sector, which targets companies with an annual turnover of less than PLN 500,000.

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