BRE BANK
After unsatisfactory results between 2002 and 2004, BRE Bank, under new management and with a new strategy, achieved a dramatic improvement in results in 2005.
Net profits were transformed, reaching €51m compared with a €70m loss in 2004. The bank regained profitability, achieving a RoE of 11% for 2005 with further improvement shown in early 2006 results.
Dynamic market expansion of retail online banking in Poland took place in 2005 with subsidiaries mBank and MultiBank obtaining 100,000 new customers during the year. In addition to an 80% increase in mortgage loans through mBank and MultiBank, BRE launched a new credit agency and financial advisory platform called emFinanse, which is expected to have 400 agency offices nationwide by the end of 2006.
CEO Slawomir Lachowski says: “The Polish market for banking services is changing at a dramatic pace. Increasingly, a quick and efficient service and a flexible approach to customers’ needs are becoming all-important factors in the battle for customer acquisition.
“BRE Bank undertakes a mission to be the best financial institution for demanding customers. Our aim is to set directions for the changes, to be ahead of customer’s growing expectations rather than to follow those changes. We wish to be perceived as a modern, innovative and strong institution, able to offer its customers the best, comprehensive solutions and financial products as well as services of the highest quality. We are pleased to have received the Bank of the Year award – it confirms that BRE Bank is on the way to realising its ambitions.”
