July 27, 2017 / 5:46 AM / 2 years ago

Polish mBank Q2 profit down 30.5 pct y/y, below expectations

WARSAW, July 27 (Reuters) - Poland’s fourth largest lender by assets, mBank, reported on Thursday a 30.5-percent annual fall in its second-quarter net profit reflecting the impact of one-off cost.

The bank, a unit of Germany’s Commerzbank, said its net profit stood at 270 million zlotys ($74.53 million) in the second quarter of 2017 compared with 285 million zlotys expected by analysts in a Reuters poll.

The one-off costs that negatively weighted on mBank results consisted of write off on bond instruments, as well as negative revaluation of the real estate company mBank decided to sell.

$1 = 3.6186 zlotys Reporting by Pawel Florkiewicz and Lidia Kelly

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