PKO BP Q4 profit lower than expected. Mulls acquisitions in Slovakia and Czechia

Poland's largest lender PKO BP fell short of consensus expectations with PLN 593.3 million Q4 2016 attributable net profit. Analysts predicted a PLN 611 million. The Q4 figure was down by 23 percent q/q and 34 percent up y/y. For the whole 2016, the lender's profit stood at PLN 2.874 billion, up by 10.1 percent y/y. At end-2016, PKO BP had PLN 285,57 billion in assets and kept it spot as the country's biggest lender. The lender is also looking for takeover opportunities in Czechia and Slovakia. “I can't tell you whether we'll acquire a bank in our region this year or not,” company's deputy CEO Bartosz Drabikowski told ISBnews. “If there will be such bank in Poland or in the region, we'll take a closer look at it. This might be a bank in Czechia or Slovakia,” Drabikowski added. He clarified that currently, PKO BP is not conducting any potential merger talks, but its strategy encompasses acquisitions. “This might not be a lender it might be a fintech company for example,” Drabikowski said.