PKO BP's 35% rise in H1 profit disappoints analysts

"We are growing much faster than our competitor Pekao," said PKO BP's Rafał Juszczak. Pekao earned in the same period zł.1 billion, up by 20% as compared to H1 in the previous year. In Q2 PKO BP made a net profit zł.611 million, which was below analysts' expectations of zł.680 million. This was one of the reasons behind the company's share price drop of 2.3%. Rafał Juszczak emphasizes that the growth was triggered by dynamic development of all of the bank's business divisions. One of  the most significant growths was recorded by PKO TFI investment fund, which saw its assets increase by zł.6.02 billion to zł.14.6 billion. (Parkiet, p 3; Dziennik, Wall Street Journal Polska, p. 10; Puls Biznesu, p. 10) A.K.