Warsaw-based BRE Bank has suffered its largest ever quarterly loss, as its Q4 results were zł.385.9 million in the red
Published:
9 February 2005 y., Wednesday
Warsaw-based BRE Bank has suffered its largest ever quarterly loss, as its Q4 results were zł.385.9 million in the red.
Its full year figure ended with a loss of zł.278.4 million, which is much worse than the zł.5.5 million profit posted in 2003. Analysts had been expecting the bank to post a loss due to revaluation of assets and the need to create reserves to cover some of them, but the zł.278 million loss was far beyond even their worst expectations. "I expect that this kind of correction will never happen again. I want the markets to know that it was a one-time event," said Sławomir Lachowski, president of BRE Bank. Despite the substantial loss, the bank kept its solvency ratio at 9.99%, which is well above the safe level of 8% and it is expected to increase to 12% by the end of 2005. The bank will continue to develop its retail branches, which should generate one-third of all revenues by 2007.
Šaltinis:
wbj.pl
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »