Raiffeisen Polbank net profits up by over 30% y/y in H1

In the first half of the year, Raiffeisen Polbank, the Polish unit of Raiffeisen Bank International recorded PLN 99.8 million in net profits, an increase of 35.6 percent on a yearly basis. RBI has put the lender up for sale in order to shore up capital, however the sale may be delayed due to complications over CHF-denominated mortgages. The lender's CEO, Karl Sevelda said on Wednesday that it will most likely take place after parliamentary election scheduled for October 25. What is more, the negotiations with state-controlled Polish insurer PZU, which has offered a price below Polbank's book value,  are rumored to have been suspended, according to anonymous sources.