WARSAW May 10 Poland's second-largest bank,
state-run Bank Pekao, said on Wednesday that it posted a net
profit of 350 million zlotys ($90.1 million) in the first
quarter, beating analysts' expectations of 329 million zlotys.
Net profit fell 39 percent from the same period a year
earlier, mainly due to payments to a state-run bank guarantee
fund that reached 178.4 million zlotys and a bank tax that cost
125.2 million zlotys.
Bank Pekao said loans to retail clients rose 9.1 percent in
the first quarter from a year earlier and those to corporate
clients climbed 3.1 percent. The growth in credit was nearly
completely financed by retail deposit growth of 10.7 percent.
($1 = 3.8844 zlotys)
(Reporting by Marcin Goettig; Editing by Edwina Gibbs)