Meritum Bank net profits up by nearly 300% in 2014 y/y

Meritum Bank recorded PLN 44.55 million in net profits in 2014, an increase of 281.5 percent on a yearly basis, the lender reported. Gross profits rose by 317.2 percent y/y and amounted to PLN 58 million. The loan portfolio was valued at PLN 2.7 billion at the end of 2014, by 19 percent more than a year ago. Meritum Bank focuses on individual clients and SMEs, it was acquired by Alior Bank last month.