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The Warsaw Voice » Business » April 16, 2008
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Polbank Aims Big
April 16, 2008   
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Polbank, part of the Greek EFG Eurobank group, aims to become the fifth largest bank in Poland in terms of assets by 2012.

Polbank launched operations here in February 2006, building its network of branches from scratch. By the end of last year, the network had grown to 259 branches in over 120 cities across the country.

Polbank opens branches in large cities, such as Warsaw and Poznań, and small towns like Pionki and Nasielsk in central Poland. "We consider the establishment of this large network of branches our great success," said Kazimierz Stańczak, general manager of Polbank EFG. "Let us not forget, however, that compared to markets in Western Europe, the number of bank branches per capita is still exceptionally low in Poland. We know the statistics and so the Polbank network will maintain its dynamic growth, thus providing customers with easy access to our services."

At the end of last year, Polbank's assets totaled zl.7.85 billion, making the bank 21st on the Polish market. "Considering our growth rate so far, we are likely to improve our standing soon," said Stańczak. "By 2012, we want to be one of the five largest banks in Poland in terms of assets."

Polbank EFG is part of the Eurobank EFG Group, a European financial institution with over 68.4 billion euros in assets. The group employs over 22,000 and provides services and products via 1,500 branches and points of sale, combined with alternative distribution channels. Apart from Greece, in Central and Southeastern Europe the Eurobank EFG Group has a presence in Bulgaria, Romania, Serbia, Turkey, Ukraine and Cyprus as well as Poland. The group has invested around 2 billion euros in the region.
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