Representation of the Polish bank Bank Przemyslowo-Handlowy AS started its activity in the Slovak Republic in January 1969 and the bank's second representation abroad. Bank Przemyslowo-Handlowy opened its first representation a year earlier in the Czech Republic. That was the reason for interviewing Waldemar Olewski, head of its representation in Slovakia, about the Polish bank's mission and goals.

Mr. Olewski, the bank your represent is sufficiently known within expert circles. Despite this we will ask you to briefly characterize it ...

Bank Przemyslowo-Handlowy AS (BPH) is ranked by financial market experts in Poland among the largest and most successful universal banks. In February 1999 we commemorated the 10th anniversary of its origin and successful operation in various parts of Poland, where BPH administers over 109 branch offices that along with the Krakow-based headquarters render about 100 services and bank products. Modern services from the BPH product family are available to a large number of individual clients and firms. Typically, these are bank services, consultancy, investment and insurance services.

In general, such an anniversary would not mean so much to the tradition of other bank, but in view of the progress of transformation of the banking sector in Poland we think that our bank is part of Poland's most recent history.

We have information that your bank has already a foreign strategic partner. What is the current state?

Because of sifting out a strategic partner the end of last year was extremely significant to our bank. After signing a contract on the sale of a stake, one of the largest banks in Europe - Bayerische Hypo-und Vereinsbank AG - became it. In February 1999, Bayerische hypo-und Vereinsbank AG purchased from the European Bank for Reconstruction and Development, which is also a BPH shareholder, further shares so currently it owns a 46.7 stake and still plans to increase it.

Is this year presaging some marked changes?

In view of the Polish banking sector specifics, our bank will retain its identity while utilising Bayerische Hypo-und Vereinsbank AG's know-how and international experience. The noted involvement of the strategic partner is a breakthrough for our bank especially in giving effect to long-term objectives. In the first instance it will have an impact on further expanding and improving services. At the same time we will allow clients access to the international bank network of our strategic partner and access to modern bank services.

Probably all over the globe businessmen carefully observe how the banking sector is instrumental also in their export activities. What is BPH offering in this area to Polish businessmen?

Bank Przemyslowo-Handlowy has been operating in the system of foreign payments since 1992. This period has allowed us to obtain requisite experience and BPH provides a number of products and services in the system of foreign payments. As the main creed includes the satisfaction of needs of our clients, we seek to treat them on an individual basis. Bank services in foreign trade for exporters and importers primarily entail also a cooperation with approximately 1,400 banks worldwide. Given contacts make it possible for us to be actively involved in foreign trade and efficiently promote activities of Polish companies. Export promotion means to us in particular crediting exporters or expanding services in the system of foreign payments.

Can you explain the motivation of the BPH management resulting in opening the representation in Slovakia?

The decision of the BPH management concerning the opening of the representation in the Slovak Republic is also a reaction to responsive policy of the Slovak Government that markedly declared cooperation with our country and a logical step in respect to an upward trend in mutual trade between Poland and Slovakia. The turnover is dynamically developing and statistics record an annual rise of some 20 per cent. To be more specific, while the mutual trade turnover totaled last year U.S.$910 million or so, this year experts in general expect that the total trade balance will top U.S.$1 billion. I underline that the BPH representation in Slovakia is the first representation of a Polish bank in your country and the bank management's decision was also largely affected by the requirements from our clients who conduct business with Slovak companies for us to provide their contracts service.

How is developing the cooperation with Slovak banks?

We are cooperating with nearly all the banks in Slovakia. In the first instance we seek to bring our representation in Slovakia to the minds of local banks in order to establish relations as soon as possible. Despite that only a short time has elapsed from the start of BPH operation in Slovakia, I assess the situation optimistically.

Do you expect the possibility of crediting business transactions of Slovak firms when exporting to Poland?

These problems still remain open and much will be depending on what developments occur. Your market is of interest to Polish business circles and the same can be claimed also the other way round. At present we are concentrating especially on information services and consultancy. We want to reach for mainly those Slovak businessmen who conduct business with Polish entities and provide them with detailed information and intermediary services.

The availability of credits in Slovakia is still burdened also with a high interest rate. How do you assess the availability of bank credits to businessmen in Poland?

As I already stated, each client is treated on an individual basis. Bank Przemyslowo-Handlowy that I represent in Slovakia is known for granting a relatively extensive scope of credits.

Slovak Trade FORUM