Bank BPH net profits fall y/y to PLN 4.43 mln in Q3

Bank BPH recorded a consolidated net profit of PLN 4.43 million in Q3 of 2016 for continuing and discontinued operations, down from PLN 4.85 million a year earlier, the bank reported. The bank explained that due to the purchase of its Primary Activities by Alior Bank, starting with the report for Q1, those activities are indicated as “discontinued operations,” while activities that remain with BPH  are indicated as “continuing operations.” In Q1-3 of this year, the bank had a consolidated net loss of PLN 411.66 million from continuing and discontinued operations compared to a net profit of PLN 22.61 million a year earlier. In standalone terms, the net loss from continuing and discontinued operations in Q1-3 was PLN 314.64 million versus a net profit of PLN 34.78 million a year earlier. Bank BPH has been present on the Polish market for over 20 years. It is a public company listed on the WSE.