May 10, 2018 / 4:15 AM / 5 months ago

Poland's Bank Pekao Q1 net rises 12 pct, slightly above f'cast

WARSAW, May 10 (Reuters) - Poland’s Bank Pekao said on Thursday its first-quarter net profit rose 12 percent year-on-year to 392 million zlotys ($109.06 million) as a fast-growing economy encourages Poles to take loans, while pay rises contribute to increased deposits.

The state-run bank’s net profit in the first quarter came in above forecasts, as analysts had expected the country’s second largest bank to report a bottomline of 380 million zlotys. ($1 = 3.5942 zlotys) (Reporting by Marcin Goclowski; Editing by Sunil Nair)

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