Austria's Erste aims to gain market foothold in Poland.

By bne IntelliNews March 1, 2011
Austria's Erste, which now operates merely via its brokerage house in Poland, may adapt its strategy to gain a market foothold, as its CEO Andreas Treichl has told the Financial Times daily in an interview. "Poland is a special situation - it is a relatively large market with two dominant banks and then a wide array of banks with market shares of 3-5%," Treichl said adding that Erste usually wants to have 15-20% market share. "That is probably difficult to achieve so we have to adapt and see whether we can be competitive in a market like Poland with a smaller market share," Treichl admitted. He also noted that increasing competition in Poland could drive down profits. tom
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