May 15, 2018 / 12:59 PM / 9 days ago

EARNINGS POLL-Polish lender PKO BP seen reporting 34 pct jump in Q1 profit

    * PKO Q1 results due May 22, before market open
    * Net profit seen up 34 pct to 705 mln zloty

    WARSAW, May 15 (Reuters) - Poland's biggest bank PKO BP
         is expected to report a 34 percent rise in
first-quarter net profit as an accelerating economy boosted
demand for banking services, while costs were controlled, a
Reuters poll showed. 
    State-run PKO BP is expected to report a net profit of 705
million zloty ($196.43 million) in the first three months of
2018, a survey of nine banks and brokerages showed on Tuesday.
    "The net profit rise is a combination of healthy growth in
core revenues. On top of that financial costs fell, as well as
its contribution to the guarantee fund," said Dariusz Gorski, an
analyst with DM BZ WBK brokerage.    
    
    The following table summarises market forecasts for 
PKO. (Figures in millions of zloty unless stated):
                    FIRST QUARTER OF 2018 
==============================================================
               Net Profit  Net Interest  Net Fee    Net
                             Income      Income   provisions 
==============================================================
  Average         705        2222         740       -350
  Median          739        2225         739       -351
  Lowest          733        2193         733       -381
  Highest         751        2241         751       -310
 No. of f'casts    9           9           9          9
  Q1 2017         525        2046         710       -391
  Q4 2017         820        2249         760       -448
 Forecasts provided by: Wood & Co., Citigroup, Erste, DM BZ WBK,
DM mBanku, Pekao IB, Ipopema, DM BOS, and Millennium DM.
($1 = 3.5891 zlotys)

 (Reporting by Marcin Goclowski; Editing by Agnieszka Barteczko
and Louise Heavens)
  
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