IR Releases - Archive

May 31, 2000

Deutsche Bank sells its stake in Polish BIG Bank Gdanski


Deutsche Bank sells its stake of about 19 per cent in Poland's BIG Bank Gdanski to the Portuguese bank Banco Comercial Portugues (BCP) and other investors. The bank had gradually built up its position over the last few months.

Deutsche Bank pursues various strategic approaches in Poland. One of them was a cooperation arrangement with BIG Bank Gdanski. Since this could not be realised, Deutsche Bank decided to sell its stake with profit.

"Now Deutsche Bank will rapidly expand its business in Poland by organic growth through its subsidiary Deutsche Bank Polska S.A. in Warsaw and the latter's 90 percent holding in the Cracow based regional bank Bank Wspolpracy Regionalnej (BWR). Poland is a core market for Deutsche Bank in Europe", said Tessen von Heydebreck, responsible in Deutsche Bank's Board of Managing Directors for Central and Eastern Europe. "Therefore we will intensively examine further chances for cooperations and acquisitions."

Deutsche Bank Polska S.A. is represented in Warsaw and 8 other cities in Poland. It employs 270 staff and has more than 1,000 corporate customer relationships. In 1999 the bank turned in a profit of more than PLN 50 million. So far, Deutsche Bank has operated mainly in corporate banking and investment banking in Poland. To expand its business range, the bank began to offer private households mortgage loans at the end of last year - supported by a new sales team and a modern call centre. In its third full year since foundation, the fund company DWS Polska is already the second largest mutual fund provider on the Polish market.




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