According to BRE Bank press release, Bank has sold PLN 2.2bn (up 56.5% y/y) of new mortgage loans in the first 5 month of 2007. Multibank has sold PLN 1.2bn (up 68% y/y) and mBank PLN 1bn (up 44.5% y/y). The result was mainly driven by the FX denominated mortgage loans. Our view: We would not expect the news to have a significant impact on the stock price today however it should have a positive impact on the 2Q07 results.