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Polish banks Q4 net profit falls by 3 pct y-o-y, regulator says
February 9, 2015 / 11:12 AM / 3 years ago

Polish banks Q4 net profit falls by 3 pct y-o-y, regulator says

WARSAW, Oct 31 (Reuters) - The Polish banking sector’s aggregated net profit fell in the fourth quarter by almost 3 percent year-on-year, as lower interest rates and credit card fees squeezed margins, data from regulator KNF showed on Monday.

The local banks’ net profit fell to 3.26 billion zlotys ($882 million), KNF said.

Three of Poland’s top 10 banks: mBank, owned by German Commerzbank, Millennium, owned by Portugal’s BCP, and BZ WBK, controlled by Santander , have already presented their results.

Two of them booked earnings above forecasts, one came in below analysts’ estimates. Their net profit fell by almost 8 percent on average.

The two biggest Polish banks, state-controlled PKO, and UniCredit’s Polish arm Pekao, are due to publish results over the next two months. ($1 = 3.6958 zlotys) (Reporting by Marcin Goclowski; Editing by Adrian Krajewski)

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