Bank BPH PBK Q3 results may hit end of year result

BPH PBK posted a net profit of zł. 271.3 million after the third quarter, which is 15% more than over the same period last year. However, the bank's share prices dropped by 2%, as it earned zł. 66.7 million in Q3 alone, which was 20% less than anticipated by the market. This means that its full-year forecast of zł. 380-400 million is under threat. "Other banks may also post lower profits, which is due to falling bond yields," said Marcin Materna, an analyst with Millennium DM. BPH PBK posted a profit of zł. 31 million from financial transactions in the third quarter, mainly T-bonds, while it had earnings of zł. 80 million from this source in Q2. "There will be no loss in the fourth quarter for sure," assured Józef Wancer, BPH PBK president. He also stressed that the company managed to halt the drop in deposits and increase the value of loans given. The restructuring process of the bank is going well and it still has a high solvency ratio. BPH PBK is considering paying out a higher dividend next year, which currently amounts to 30% of net results. (Puls Biznesu, pp. 1, 6) M.M.