April 27, 2017 / 5:38 AM / 3 months ago

Polish mBank Q1 profit down 29 pct y/y, as expected

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WARSAW, April 27 (Reuters) - Poland's fourth largest lender by assets, mBank, reported on Thursday a 29 percent annual fall in its first-quarter net profit reflecting the impact of the cost of bank guarantee funds charges.

The bank, a unit of Germany's Commerzbank, said its net profit stood at 219 million zlotys ($56.53 million) in the first quarter of 2017 compared with 214 million zlotys expected by analysts in a Reuters poll. ($1 = 3.8738 zlotys) (Reporting by Marcin Goclowski; Editing by Christian Schmollinger)

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