GDANSK (Reuters) -Santander Bank Polska on Wednesday reported better-than-expected net profit in the third quarter, helped by growth in net interest income and net fee and commission income. Santander
Santander Bank Polska Reports Strong Q3 Profit Surpassing Forecasts
GDANSK (Reuters) -Santander Bank Polska on Wednesday reported better-than-expected net profit in the third quarter, helped by growth in net interest income and net fee and commission income.
Santander Bank Polska, in which Austria's Erste Group is buying a 49% stake, said net profit came in at 1.89 billion zlotys ($519.73 million), down from 1.94 billion zlotys in the same period a year earlier, but above analysts' expectations of 1.83 billion zlotys.
Its net interest income was 3.20 billion zlotys against analysts' expectations of 3.17 billion zlotys, while net fee income was 725 million zlotys compared with a 730 million zloty forecast.
Analysts had expected the quarterly result to be supported by lower provisions for its portfolio of Swiss franc-denominated loans.
The legal provisions for such loans totalled 168.5 million zlotys in the quarter compared with 738.8 million zlotys it reported in the previous quarter.
($1 = 3.6365 zlotys)
($1 = 3.6365 zlotys)
(Reporting by Julia Kotowska)
