November 8, 2017 / 6:55 AM / in a month

Poland's Pekao sees net profit at over 3 bln zlotys in 2020

WARSAW, Nov 8 (Reuters) - Poland’s state-run Bank Pekao expects a rise in its net profit to over 3 billion zlotys ($818.93 million) in 2020 from 2.28 billion last year as it plans to lower cost-to-income ratio to below 40 percent, it said on Wednesday.

Pekao, which is Poland’s second-largest bank, also said that it wants to be able to pay out 100 percent of its 2017 and 2018 profits in dividends. ($1 = 3.6633 zlotys) (Reporting by Agnieszka Barteczko)

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