Alior profit up. No acquisitions planned

WSE-listed Alior Bank, owned by state-controlled insurer PZU, had PLN 618.28 million net profit in 2016 (PLN 369 million in Q4), up from PLN 309.65 million in 2015. According to the financial report, the results from 2016 and the year before are hard to compare due to a number of one-off factors, such as BPH takeover. “In connection with the acquisition of the spun-off part of Bank BPH, negative goodwill was recognized, which increased the value of the Bank’s income in 2016 by PLN 508.1 million,” the report said. Alior assets at end-2016 amounted to PLN 61.21 billion, up from PLN 40 billion the year before. Lender's CEO, Wojciech Sobieraj announced, that Alior is not currently involved in any takeover negotiations. “We are in no data room, we are not buying any portfolio,” Sobieraj said.