Pekao's profit does not fall as expected

Bank Pekao SA, one of Poland's most significant lenders, noted a fall in consolidated net profit in the second quarter. This year it amounts to PLN 619,21 million, whereas last year the  profit was PLN 685,08 million, the ISBnews reports. This fall is said to be on account of  "record-low interest rates and increased fees for the state banking guarantee fund", Reuters reads. Still this decrease in consolidated net profit is less than expected. Analysts asked by Reuters anticipated a fall down to PLN 573 million. Bank Pekao SA operates for 80 years and is one of the largest banks in the East-Central Europe. Since 1999 it belongs to the Italian group UniCredit.