2015-05-13 8:34 Author: (DS) (LUK), (ISBnews) Zbigniew Jagiello, President of PKO BP [Photo: WP.TV] 
Update, hours. 11.10
Historically low interest rates hurt the results of PKO BP. In the first three months of this year, the bank earned 647 million zlotys – about 155 million less than the year before. The value of loans and advances increased by almost 3 billion zlotys. The greatest share of housing loans.
At approximately 3 percent fall in the morning stock prices of the largest Polish bank. Investors get rid of shares in PKO BP. It is connected with worse results for the first quarter that were published before the start of trading on the WSE.
The group’s net profit of PKO BP in the first quarter of 2015 years was 19.4 percent. lower in a year, which was mainly influenced by higher by nearly 25 percent administrative overheads caused by changes in the composition of the group. Speaking about the acquisition of Nordea group companies. Have increased in recent times also contributions and payments to the Bank Guarantee Fund.
Poorly look profits from interest. This is the result of record low interest rates in our country. Net interest income amounted to 1.6 billion zł and was lower by 4 percent compared with last year.
The result after all the net result is better than the earlier forecasts of analysts. Their average estimate assumed zł 636 million profit. Analysts polled by agency ISBnews expected net profit in the range of 608-680 mln zł.
The results of the largest Polish bank is under pressure, which fortunately for customers is not reflected on solvency. At the end of March, the solvency ratio stood at 13.1 percent. The minimum level set out in the Banking Act is 8 percent.
Total Assets bank at the end of the first quarter of 2015 years amount to 256 billion zł to 248 at the end of the same period last year. Loans and advances to customers represent the largest part of the assets. Compared to the end of 2,014 years
portfolio of loans and net loans increased by 2.9 billion zł. A significant change in the structure of the portfolio, which is due to run lending and strong appreciation of the Swiss franc.
The generic structure of the gross loan portfolio consisted mainly of mortgages (101 billion zł). Their value increased by 2.9 billion zł with data from the end of 2014. Nearly 65 billion zł amount to business loans.
The largest meat company in Poland announced results for the first quarter.
The value of gross loans and advances to retail customers amounted to 137 billion zł. In this Loan mortgage banking increased by 33 percent. to 93.8 billion zł. Since the beginning of the year the bank granted mortgage loans in the amount of 2.3 billion zł. The value of gross loans in the corporate segment increased by 15 percent. in the year to 45.7 billion zł.
PKO Polish Bank is a leader in the Polish banking sector. The bank’s shares since November 2004 are listed on the stock exchange. Since then, their value increased about 75 percent.
PKO Polish Bank submitted to the Office of Competition and Consumer Protection for permission to take control of the credit union “Cheerful” located in Myslowice. The application was presented on May 8 and the case is pending.
At the end of March, the Financial Supervision Authority assessed that the credit unions sector has no money fulfilling the legal requirements for participation in the restructuring of credit unions Cheerful. Banks interested in participating in this process may report the interest to the PFSA to 27 April 2015. Inclusive.
JUMPS Cheerful been operating since 1993. It has a network numbering 70 branches in 12 provinces.
In May last year. the Financial Supervision Authority unanimously decided to establish a receivership manager in cooperative savings – Credit Cheerful in Myslowice, who has been obliged to develop and agree with the KNF rehabilitation program.
In the last year UOKiK has already agreed PKO BP to take control of the credit union to them. Nicolaus Copernicus University in Ornontowicach.
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