Warsaw, 28 April 2006
PRESS RELEASE – Appendix 2
- Growing profitability of BRE Bank Group subsidiaries
The consolidated subsidiaries of the BRE Bank Group generated a pre-tax profit of PLN 45.5 million in Q1
2006, up 35% quarter on quarter.
Among BRE Bank’s strategic subsidiaries, BRE Bank Hipoteczny (BBH, mortgage bank) reported the highest
Q1 profitability as it generated a profit before tax of PLN 9.6 million, up 40% year on year. Its loans drawn in Q1
2006 grew by an impressive 90% year on year. BBH’s loans portfolio grew 14% and reached PLN 2.1 billion in Q1
2006. BBH has a 47% share in the mortgage bonds market. It won the Real Estate Developers Association ranking
of the best providers of real estate development loans in late 2005 for a third consecutive time.
DI BRE Banku (BRE Bank Securities) generated a pre-tax profit of PLN 6.1 million in Q1 2006. The company
reported a record-high increase in the number of operated on-line investment accounts: up 730% year on year
(3,082 accounts in Q1 2005, 22,651 accounts in Q1 2006), mainly thanks to mBank’s brokerage service. DI BRE
Banku is the leader of the options market (41% market share) and ranks second in terms of transactions in forwards
and futures (13.5%).
The BRE Bank Group’s results were also helped by BRE Leasing which reported a pre-tax profit of PLN 5.5
million (up 38% year on year). The volume of contracts executed by the company grew 47% year on year in Q1
2006 and reached PLN 357.5 million. This was possible despite the seasonal volatility of the leasing service where
the volume of contracts signed early in the year is traditionally low. In March 2006, BRE Leasing once again
received the European Medal (for its BRE Leasing 48 product which complies with European standards) in a
competition organised by the Business Centre Club and the Committee for European Integration.
The factors of the Intermarket Group generated a pre-tax profit exceeding EUR 2.8 million in Q1 2006. Their total
sales grew 19% year on year and reached over EUR 1 billion. The sales of the Polish company Polfactor SA were
PLN 602 million, up 15% year on year (up 30% for import factoring). The company purchased 72 thousand
invoices in Q1 2006, up 33% year on year.
The Skarbiec Asset Management Holding generated a pre-tax profit of PLN 5.5 million in Q1 2006, including the
PLN 4 million pre-tax profit of Skarbiec TFI. The assets under management of Skarbiec Investment Management
grew 16% in Q1 2006 and crossed the mark of PLN 3 billion. In January 2006, Skarbiec TFI expanded its product
range to include the fund SKARBIEC-RYNKU MIESZKANIOWEGO FIZ. In March, the Securities and Exchange
Commission approved a new securitisation fund of the company. Skarbiec TFI was named the Market Leader 2006
as Poland’s best provider of investment funds in the seventh edition of the Promotion Competition for Poland’s Best
Companies, Products and Services.
For more information please contact: Paweł Wróbel – BRE Bank’s Press Officer, tel. (022) 829-02-91