Deutsche Bank PBC, the German financial giant Deutsche Bank's retail business, has announced that it wants to double its outlets in Poland to 60, and gain 200,000 clients over the next two years.

"I judge our capital needs at zł.100-150 million. The group's aspiration is the development of the bank in Poland. However, we don't aspire to become the second or third bank [in the market]. Instead, we want to gain the richest individual clients and the best small- and medium-sized businesses," said the bank's president, Marek Kulczycki. He said the firm also plans to spend zł.20-28 million on revamping its IT system.

Kulczycki warned however, that the plan would make it impossible for PBC to reach its financial targets this year. Last year, PBC recorded a loss of zł.2.7 million, and a loss of zł.3.5 million in 2003.

"Due to the investments the bank will record a loss this year, which will probably be higher than in 2004," said Kulczycki.