Bank Handlowy results better than expected

Bank Hadlowy, the Polish unit of Citigroup, recorded a consolidated net profit of PLN 228.4 million in the third quarter of 2014 compared to PLN 165.2 million a year earlier, the lender said in its financial statement. Analysts polled by the Polish Press Agency had expected the result to be PLN 216.7 million. The bank's net interest income amounted to PLN 304.1 million in Q3 2014, in line with market consensus. It was 1 percent lower than in Q3 2013. Net fees and commissions came in at PLN 144.4 million, slightly lower than analysts' expectations of PLN 149 million. It fell by 6 percent year-on-year.