Pekao's profit falls

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. This drop is said to be on account of  "record-low interest rates and increased fees for the state banking guarantee fund." Still this decrease in consolidated net profit is less than expected. Analysts asked by Reuters anticipated a decline to PLN 573 million. Bank Pekao SA operates for 80 years and is one of the largest banks in the CEE. Since 1999 it belongs to the Italian group UniCredit. The head of those two, Luigi lovaglio, also published the decision of not buying another Polish lender Bank BPH SA.