BGK preliminary net profit for 2017 grows to PLN 518 million

Poland’s state-owned lender BGK preliminary net profit for 2017  grew to  PLN 518 million from PLN 349 million a year ago. Over the next years the bank plans to keep its net profit in a similar range to that recorded in 2016-2017, BGK CEO Beata Daszyńska-Mazurek said. Intensifying cooperation with commercial banks may increase profitability, but it is not the main goal of BGK, she underscored. In 2017 BGK provided direct credit in the amount of PLN 10 billion. The bank  invested about PLN 1.8 billion in financing of exports and foreign expansion, and plans to increase the investments to PLN 2.2 billion in 2018. BGK aims to increase its geographical presence by four countries in 2018 (to 56 from current 52), board member Wojciech Hann said.