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Polish bank PKO Q1 profit down 18 pct, in line with forecast
May 22, 2017 / 5:00 AM / 4 months ago

Polish bank PKO Q1 profit down 18 pct, in line with forecast

WARSAW, May 22 (Reuters) - Poland’s largest lender, PKO BP , on Monday reported an 18 percent fall in first-quarter net profit, mainly due to changes in the way contributions for bank guarantee fund are booked this year.

The state-run bank reported a net profit of 525 million zloty ($140.15 million), in line with analysts’ expectation of 521 million zloty.

$1 = 3.7460 zlotys Reporting by Marcin Goclowski; Editing by Sherry Jacob-Phillips

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