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Polish BZ WBK Q1 profit down, but higher than forecast
April 26, 2017 / 5:56 AM / 5 months ago

Polish BZ WBK Q1 profit down, but higher than forecast

WARSAW, April 26 (Reuters) - Polish lender Bank Zachodni WBK , a unit of Spain’s Banco Santander, reported on Wednesday an almost 19-percent annual fall in its first-quarter net profit due to higher costs of guarantee funds booked.

Poland’s third-largest bank in terms of assets said its net profit fell to 453 million zloty ($117.39 million) in the first quarter, but it came above analysts’ expectations of 441 million zloty. ($1 = 3.8588 zlotys) (Reporting by Marcin Goclowski; Editing by Anna Wlodarczak-Semczuk)

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