# Poland’s top lender PKO BP Q2 profit quadruples on core business, low provisions
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2024-08-22
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: PKO BP bank profit soars fourfold in Q2, beats expectations
Meta Description: Poland's biggest bank, PKO BP, reports a 4x increase in Q2 net profit, driven by strong core performance and lower provisions for Swiss franc loans.
URL: https://financedigest.com/polands-top-lender-pko-bp-q2-profit-quadruples-on-core-business-low-provisionshtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2024-08-22t044624z1lynxmpek7l03rrtroptp4poland-banks-1736811522692-compressed.webp)

GDANSK (Reuters) – Poland’s biggest bank PKO BP said on Thursday second-quarter net profit quadrupled year-on-year, beating market expectations, mainly fuelled by a strong uptick in core business performance, as well as a drop in legal provisions for Swiss franc mortgage loans.

Profit for the period climbed to 2.35 billion zlotys ($611.61 million) while analysts polled had expected 2.14 billion. Net interest income, the state-owned lender’s main revenue generator, jumped 15% to 5.05 billion zlotys.

($1=3.8423 zlotys)

(Reporting by Mateusz Rabiega; Editing by Clarence Fernandez)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---