BOŚ Q2 profit grows

WSE-listed lender BOŚ reported a consolidated net profit of PLN 23.4 million in Q2, compared with PLN 1.17 million profit last year. Net interest income came in at PLN 97.21 million, versus PLN 67.72 million in Q2 2016. Net fees and commissions totaled PLN 25.72 million, compared with PLN 28.81 million in the previous year. The total value of assets amounted to PLN 19.91 billion, compared with PLN 20.83 billion at end-2016. For H1, the lender posted a PLN 43.35 million net profit, up from PLN 11.75 million loss last year. “The profit was the result of effective implementation of the bank’s strategy framework for 2016-2020 and its recovery program. Corrective measures implemented at the bank and the companies of the capital group have improved the bank's profitability by increasing the bank's operating profit and operating costs (excluding the BGF contribution), including employee costs,” the bank said in its financial report.