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Banking

Poland’s top lender PKO BP Q2 profit quadruples on core business, low provisions

2024 08 22T044624Z 1 LYNXMPEK7L03R RTROPTP 4 POLAND BANKS

Published : 4 weeks ago, on

 

GDANSK (Reuters) – Poland’s biggest bank PKO BP said on Thursday second-quarter net profit quadrupled year-on-year, beating market expectations, mainly fuelled by a strong uptick in core business performance, as well as a drop in legal provisions for Swiss franc mortgage loans.

Profit for the period climbed to 2.35 billion zlotys ($611.61 million) while analysts polled had expected 2.14 billion. Net interest income, the state-owned lender’s main revenue generator, jumped 15% to 5.05 billion zlotys.

($1=3.8423 zlotys)

 

(Reporting by Mateusz Rabiega; Editing by Clarence Fernandez)

 

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