Bank Handlowy net profits fall by more than 50%

Bank Handlowy, the Polish unit of Citigroup, recorded a consolidated net profit of PLN 104.4 million in Q1 2016, compared to PLN 217 million a year earlier, the lender said in its financial statement. The bank's net interest income amounted to PLN 247.4 million in Q1 2016, in comparison with PLN 256.8 million in the corresponding period of 2015. Net fees and commissions came in at PLN 142.7 million, compared to PLN 151.4 million a year earlier. Bank Handlowy is one of the oldest banks in Poland and Europe, it was established in 1870. It is the 10th largest bank in Poland in terms of assets, and 18th in terms of number of outlets. It has been listed on the WSE since 1997.