Pekao beats predictions
The median forecast given in a Reuters poll of 10 analysts envisaged a net profit after minority interests of zł.320 million, according to new IFRS accounting standards.
The UniCredito Italiano unit was expected to report revenues and costs steady at around last year's levels, while the market is waiting to see whether management's pledges to speed up credit growth materialized in early 2005.
"Pekao has clearly accelerated revenue generation," chief executive Jan Bielecki said in a statement. "Given present favorable macroeconomic forecasts we will continue this positive trend. Investments are growing and it's only a matter of time until demand for credit grows further."
Net interest income, which equals roughly half Pekao's total revenue, rose 2.5 percent to zł.538 million. Total revenues rose four percent to zł.1.042 billion. (Reuters)
The UniCredito Italiano unit was expected to report revenues and costs steady at around last year's levels, while the market is waiting to see whether management's pledges to speed up credit growth materialized in early 2005.
"Pekao has clearly accelerated revenue generation," chief executive Jan Bielecki said in a statement. "Given present favorable macroeconomic forecasts we will continue this positive trend. Investments are growing and it's only a matter of time until demand for credit grows further."
Net interest income, which equals roughly half Pekao's total revenue, rose 2.5 percent to zł.538 million. Total revenues rose four percent to zł.1.042 billion. (Reuters)
