Bank Pekao net profits in Q1 above expectations
11:51
The net profits of Bank Pekao, Poland's second largest lender, beat experts' expectations in the first quarter thanks to a rise in trading income, the lender informed on Tuesday.
In Q1, the lender recorded PLN 624.42 million of net profits, compared with PLN 634.24 in the corresponding period a year ago.
The market consensus stood at PLN 597 million.The bank's net profit declined annually by 1.5 pecent due to record-low interest rates and increased fees for the state banking guarantee fund, the lender said.
