Idea Bank 2017 profit soars

WSE-listed Idea Bank’s net profit in 2017 amounted to PLN 230.8 million, up from PLN 40.85 million profit a year earlier, the bank reported. This result does not include the result on the sale of 25.01 percent stake in Idea Leasing SA, the impairment loss on Open Finance, the update of Sky Tower's 2017 fair value and the result on the sale of GetBack and discontinued operations in 2016, which amounted to PLN 151 million altogether. Net interest earnings amounted to PLN 681.4 million, up from PLN 624.02 million in 2016, with net fees and commissions income amounted to PLN 311.4 million compared to PLN 341.89 million in the previous year. The bank's assets stood at PLN 23.95 billion at the end-2017, versus PLN 21.52 billion at end-2016.