PKO expects significant income from Visa deal

Following the announcement that Visa Inc will buy Visa Europe, Poland's biggest bank by assets, PKO  said on Monday that it expects significant income from the deal. "PKO Bank of Poland,  as a member of Visa Europe and a beneficiary of the transaction, will participate proportionally to the share of the bank in the adjusted revenues of Visa Europe," PKO said in a statement. "The profit from this transaction will likely be booked in H1 2016," a person close to the bank told the Polish Press Agency (PAP). "At this moment we may cautiously estimate it will be PLN 800 mln to PLN 1 bln in additional income for PKO BP, it will probably be in Q2."