Member access

4-Traders Homepage  >  Shares  >  Warsaw Stock Exchange  >  PKO Bank Polski SA    PKO   PLPKO0000016

SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

PKO Bank Polski SA : Poland PKO BP Fourth-Quarter Profit Boosted by Sale of Subsidiary

03/10/2014 | 03:44am US/Eastern

By Patryk Wasilewski

WARSAW--Poland's largest lender by assets Powszechna Kasa Oszczednosci Bank Polski SA (PKO.WA) reported Monday a higher than expected 8.6% rise in net profit boosted by a one-off sale of its credit card transaction clearance subsidiary.

Earnings in the last three months of 2013 rose to 939 million zlotys ($310 million) according to The Wall Street Journal calculations from PLN865 million a year earlier. Analysts expected the net profit to be PLN889 million.

The lender only provides full-year financial results and 12-month earnings dropped to PLN3.23 billion from PLN3.74 billion a year earlier.

PKO BP's net interest income between October and December was under pressure from the all-time low benchmark interest rates, down 9.2% annually to PLN1.88 billion and slightly above analysts' forecasts.

In other areas the lender underperformed market expectations with net fees and commissions up only 0.3% to PLN655 million, significantly below PLN825 million seen by analysts. Provisions for non-performing loans also rose in the last quarter of 2013 reaching PLN683 million, above PLN604 million expected by the market watchers.

Write to Patryk Wasilewski at patryk.wasilewski@wsj.com

Latest news on PKO BANK POLSKI SA
3d ago PKO BANK POLSKI : Current Report No. 74/2014 – PKO Bank Polski S.A. purcha..
10/16DJPolish Regulator Wants Market Newcomer to Buy GE's Local Bank
10/09 PKO BANK POLSKI : Current Report No. 73/2014 – PKO Bank Polski S.A. purcha..
10/07 Biggest bank PKO BP cleared to merge with Nordea Bank Polska
10/03 PKO BANK POLSKI : Current report No. 72/2014 – Obtaining of the permit of ..
10/02 PKO BANK POLSKI : Current Report No. 71/2014 – Declaration on payout of di..
10/02 PKO BANK POLSKI : Current Report No. 70/2014 – PKO Bank Polski S.A. purcha..
09/29 Biggest bank PKO BP cleared to merge with Nordea Bank Polska
09/26 PKO BANK POLSKI : Current report No. 69/2014 – Obtaining of the permit of ..
09/25 PKO BANK POLSKI : Current Report No. 68/2014 – PKO Bank Polski S.A. purcha..
Advertisement
Chart
Duration : Period :
PKO Bank Polski SA Technical Analysis Chart | PKO | PLPKO0000016 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF