November 26, 2019 / 11:25 AM / 18 days ago

Poland's Pekao cuts 2020 ROE target to 11-12% -CEO

LONDON, Nov 26 (Reuters) - Poland’s second largest lender by assets Bank Pekao SA has cut its 2020 Return on Equity (ROE) target to 11.5% plus/minus 0.5 percentage point from an earlier expected 12.5%, its Chief Executive Officer (CEO) Michal Krupinski said on Tuesday.

Krupinski told Reuters in an interview at the sidelines of the presentation for investors in London that the cut was mainly due to regulatory burden.

Reporting by Marc Jones; Writing by Marcin Goclowski

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