Poland's BGK bank plans to open more branch offices abroad

2020-02-11 19:29 update: 2020-02-13, 19:31
BGK building in Warsaw. Photo PAP/Jacek Turczyk
BGK building in Warsaw. Photo PAP/Jacek Turczyk
Bank Gospodarstwa Krajowego (BGK) plans to open offices in the Netherlands, the United States and in Asia. It also intends to start work on a new strategy, the bank wrote in a Tuesday press release.

The state-owned development bank already has offices in Brussels, Frankfurt and London.

BGK is also preparing for the drafting of a new strategy and the implementation of a business model "which will constitute the framework of this strategy for the coming years."

Further steps will also be taken regarding the Three Seas Fund which has been set up by BGK and the Romanian EximBank. The fund supports transport, energy and digital projects in 12 countries of the Three Seas Initiative, a project that focuses on cross-border infrastructural cooperation of countries located between the Baltic, Black and Adriatic seas.

BGK President Beata Daszynska-Muzyczka in a released video said that in 2020 the bank will continue its mission to support the socio-economic development of Poland and noted that the bank's total assets increased from PLN 45 billion (EUR 10.56 billion) in 2015 to PLN 135 billion (EUR 31.68 billion) in 2019.

"We are strengthening Poland's and Polish enterprises' position abroad," said Daszynska-Muzyczka announcing plans to open successive BGK representative offices in Europe and, in the future, also in the US and Asian markets. She added that exports and foreign expansion were an opportunity to promote Polish companies and products. (PAP)