BGŻ BNP Paribas Q3 profit grows

WSE-listed lender BGŻ BNP Paribas, had a PLN 109.79 million net profit in Q3, up from PLN 10.22 million last year.  Net interest amounted to PLN 503.78 million, up 7.8 percent y/y, while net fees and commission stood at PLN 119.5 million, an 8.5 percent y/y decline. At end-Q3 the bank had assets worth PLN 71.9 billion, down from PLN 72.3 billion at end-2016. “Q3 was the period of finalization of bank integration processes, in October we successfully migrated the clients of Sygma Bank Polska. We also focused on providing retail banking customers with modern personal banking solutions. The results of this work are primarily the implementation of the new GOmobile mobile banking in October. In the third quarter, we also launched a cashless digital project, and we also provided Android Pay for the non-cash payments via the phone. After the integration period, where we have been concentrated for more than 2 years, Bank BGŻ BNP Paribas is entering the transformation phase,” the bank wrote in its report.