Idea Bank aims to achieve PLN 60-80 mln net profit quarterly

Idea Bank President, Jarosław Augustyniak has officially announced the main aim for 2016. "Our goal is PLN 60-80 million quarterly net profit from core business and we want to get used to this market. Certainly, we wish the results in 2016 to be better than in 2015. We plan to raise the level of net interest income. Last year we were getting around PLN 20 million per quarter. This year we expect the growth of commission and the fall of expenses," he said. Augustyniak informed that new projects, such as Cloud and Idea HUB had had a positive impact on net interest income in 2015 (14 percent y/y increase - PLN 383.9 million). The bank's president also emphasized that the increase is not the result of higher prices, but the effort of bank to reduce the cost of risk, which fell to 80 basis points.