BZ WBK profit down, but beats expectations

WSE-listed BZ WBK bank had a PLN 453 million Q1 net profit, down by 18.6 percent y/y, but above expectations which stood at PLN 445 million. Net interest income amounted to PLN 1.25 billion, down by 1.6 percent q/q, and 11.5 percent increase y/y, fee earnings stood at PLN 475.19 million, down from PLN 472.73 million y/y. Bank assets amounted to PLN 146.38 billion, compared to PLN 137.78 billion the year before.