PKO BP profit up in Q2

Poland’s largest lender PKO BP recorded a consolidated net profit of PLN 855.6 million in the second quarter of 2014 compared to PLN 752.8 million a year earlier. Analysts polled by the Polish Press Agency had expected the profit to be PLN 846.3 million. The bank’s net interest income amounted to PLN 1.94 billion in Q2 2014 compared to a market consensus of PLN 1.93 billion. It grew by 19 percent year-on-year and by 11 percent quarter-on-quarter. Net fees and commissions came in at PLN 783.6 million, slightly lower than an expected PLN 759.3 million. It rose by 9 percent y/y and by 11 percent q/q.