A FRIENDLY BANK CLOSE TO THE PEOPLE

Mission of Bank Spółdzielczy w Ostrowi Mazowieckiej (Cooperative Bank in Ostrow Mazowiecka) is building of strong financial institution according to needs of Clients and Members.
Creation of bank with universal offer with special consideration of agricultural sector's needs, SME sector's needs and territorial autonomy.
Creation of bank supporting of local development, transformation of agriculture and rural areas. Bank with leading position on the lokal financial market!

Bank Spółdzielczy in Ostrów Mazowiecka was founded in 1898 and operates in Ostrowski, Wyszkowski and Ostrołęcki districts. It is the leader on the local market. It offers a universal assortment of services with special consideration of agricultural sector's needs, SME sector's needs (servicing 60% of enterprises within the city and the district) and the territorial autonomy. The bank introduces new products and channels of distribution. A full scope handling of foreign currencies has recently been offered. Efforts are under way to include investment fund entities in the offer. Our clients are using internet and SMS banking. The most favourable interest rates and the lowest servicing costs attract our customers.

In the second half of the 1990's, the bank was the leader in restructuring and consolidation of co-op banking. Good financial standing allowed us to consolidate four neighbouring co-op banks, giving them new capital and modernization capabilities.

Fiscal year 2009 was ended with PLN 432 135 000 of amount of assets and it was 13,8% increase when compared to the previous year. Granted credits exceeded PLN 292 698 000, a 11% increase when compared to the previous years. Deposits exceeded PLN 367 149 000 and increase was 12%. Equity amounted almost PLN 42 940 000 and the Gross Profit exceeded PLN 7 035 000. Gross level profitability was 28% with a 14,69% solvency ratio. The results and the scope of operations rank our bank in a first ten amongst 570 co-op banks and in a first sixty of all domestic banks (co-op and commercial). The bank achieves success without having to lay employees off. It offers employment stability and growth opportunities by providing training courses. Keeping a safe level of costs and “bad credits” (2,34% of total credits receivable) is key to our success.

Being the main creditor of the local economy, the bank creates job positions. 50% of credits granted to enterprises, farmers and autonomies are investment credits. Annually, this translates into millions PLN for investments to stimulate the local economy. Having in mind that there are 24 000 inhabitants in Ostrów Mazowiecka and 80 000 inhabitants in the entire district, the above mentioned financing structure is a considerable boost. This symbiosis provides measurable results, such as high export volume, above average enterprise concentration ratio, lower unemployment or adding the district to the Polish dairy basin. Well performing and developing state of the art dairy farms, large surface greenhouses and institutions from the agriculture-edibles industry, are a testimony to bank's financing strategy. The bank starts participating in investment projects as early as the planning level and angages in enterprise restructuring. Thanks to joining the process of active investor seeking and thanks to credit support, the Bank was able to fully retain the assets left behind by the already bankrupt enterprise in Ostrów and to restore approximately 120 job positions, with a growth tendency.

Net income is accumulated in the bank's equity. This allows us to meet credit demands of the local economy, while maintaing financial security. The strategy of stable cash flows is closely correlated with bank's plans to invest in modernity. The computer system centralization in on-line mode and implementation of  bankig by Internet, was the main task in the near past.

In relationships with retail clients, the bank is governed by ethic marketing principles, which means providing reliable information about a good product. Stepping away from aggressive, unreliable, exclusively sales oriented advertisement, builds confidence and customer loyalty. Trust and positive image are reflected in pro-society initiatives, such as economic education for local youth or free training sessions for farmers in connection with Poland's upcoming European Union accession.

A bank, whose genesis is the struggle of positivists for development of local environment under annexation, does not avoid charitable activities. Contributions to schools, social benefit organizations and other institutions are a sound proof. It is co-opearative responsibility that obliges the bank to assist farmers with filling out direct subsidy applications.


Bank Spółdzielczy w Ostrowi Mazowieckiej
07-300 Ostrów Mazowiecka, ul. 3 Maja 32
POLAND
phone +48 29 745 22 63, +48 29 745 22 64, fax +48 29 746 23 04
e-mail: bsom@post.pl

zarejestrowany w Sądzie Rejonowym dla m.st. Warszawy
XIV Wydział Gospodarczy Krajowego Rejestru Sądowego
Rejestr Przedsiębiorców nr 0000087012
NIP: 759-000-27-35, REGON: 000508690