Raiffeisen Polbank with PLN 76.1 mln Q1 net loss
22:39
Raiffeisen Polbank, suffered a PLN 76.1 million attributable net loss in Q1 versus PLN 10.1 million loss posted last year, the bank said in a market filing.
The Q1 result was affected by the pre-announced PLN 114 million write-down of Polbank brand as well as booking the PLN 48.5 million contribution to the Banking Guarantee Fund.
Net interest income grew by 13.6 percent y/y to PLN 268.2 million, while net fee income increased by 2.2 percent to PLN 141.6 million.
Total assets declined by 5.1 percent q/q to PLN 50.6 billion at end-March. Loans dropped by 1.4 percent to PLN 33.4 billion, and deposits declined by 5.5 percent q/q to PLN 34.3 billion.
