June 29, 2017 / 12:32 PM / 5 months ago

MEDIA-Polish bank PKO to recommend dividend payout next year - PAP

WARSAW, June 29 (Reuters) -

* Poland’s biggest bank, the state-run PKO BP, will recommend a dividend payout next year, after it retained its 2016 profits, Polish state-run news agency PAP quoted Chief Executive Zbigniew Jagiello as saying.

* “As the bank’s management we want to recommend in 2018 a dividend payout from the profit achieved in 2017,” PAP quoted Jagiello as saying on Thursday.

* On June 22 shareholders in PKO BP approved the management’s proposal not to pay out dividends on 2016 profits.

* Jagiello also said that in 2017 he expected PKO to report a net profit similar to 2.87 billion zlotys booked last year, although the 2016 results were boosted by one-off elements.

-- Note: Reuters has not verified this story and does not vouch for its accuracy.

Reporting by Agnieszka Barteczko; editing by Susan Thomas

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