Raiffeisen Polbank net profit rises by 140% y/y

Polish unit of Raiffeisen Bank International, Raiffeisen Polbank recorded PLN 144 million net profits in Q1 2016, an increase of 140 percent on an annual basis. The lender's gross profit grew by 167 percent to PLN 208.6 million. Customers' deposits decreased by 8 percent y/y to 35.7 billion. Meanwhile, net commissions increased by 6 percent y/y to PLN 138.5 million, whereas net interest income reached PLN 236 million. Raiffeisen Polbank has been operating in Poland since 1991.