BZ WBK confirms 2017 profit at PLN 2.21 bln

WSE-listed lender BZ WBK had a PLN 2.21 billion net profit last year, confirming its previous estimates. The result was 2.1 percent higher y/y. Net interest income amounted to PLN 5.27 billion up by 10.6 percent y/y while net fees and commissions income reached PLN 2.01 billion, up by 5.1 percent y/y. “In 2017, the gross profit of Bank Zachodni WBK Group amounted to PLN 3.3 billion, we recorded an increase in income from core operations, and the value of our assets exceeded PLN 152 billion. We have a strong capital position that meets regulatory requirements. We kept strict control over the costs with their level remained unchanged despite investments in the future and development of the group, the costs to income ratio was 43.4 percent,” said BZ WBK CEO Michał Gajewski. The bank's assets stood at PLN 152.67 billion at the end-2017, versus PLN 150.14 billion at end-2016.