Pekao Q3 net profit grows

WSE-listed Bank Pekao, posted PLN 536.2 million attributable net profit in Q3 2017, up by 3 percent y/y, and above the consensus expectations for PLN 528 million. Revenue from interests inched up by 1.4 percent q/q to PLN 1.15 billion, while earnings from fees and commissions, contracted by 0.4 percent q/q to PLN 580.1 million. Bank’s assets amounted to PLN 171.46 billion at end-Q3, compared to PLN 174.21 billion at end-2016. In Q1-Q3 2017, the bank had PLN 1,42 billion of consolidated net profit compared to PLN 1.78 billion profit a year earlier.