# Poland’s top lender PKO BP Q2 profit quadruples on core business, low provisions
Published: 2024-08-22
Category: Finance
Category URL: https://business.express/category/finance/
Meta Title: PKO BP's Q2 net profit quadruples, beats expectations
Meta Description: Poland's biggest bank PKO BP saw a strong uptick in core business performance and a drop in legal provisions for Swiss franc mortgage loans, leading to a 4x increase in net profit year-on-year in Q2.
URL: https://business.express/polands-top-lender-pko-bp-q2-profit-quadruples-on-core-business-low-provisions/

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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)


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