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Report: ING Bank Śląski to shut brokerage services for institutional investors

will stop providingbrokerage services for institutional investors in Poland by August-end and willlay off some 20 analysts and stock traders, Bloomberg News reported.

The unit will continue toprovide investment banking and retail brokerage services in the country,according to spokesman Piotr Utrata. The move comes amid falling tradingvolumes at the Warsaw Stock Exchange and stiff competition among local andforeign brokers, Bloomberg said in its July 15 report.