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The Warsaw Voice » Business » April 30, 2014
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Bank BZ WBK expects to beat sector profit growth
April 30, 2014   
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Bank BZ WBK, a unit of Banco Santander, expects its ex-one-offs net profit to increase in 2014 from 2013 level, with growth rate outpacing 3-5% net profit growth expected for the full banking sector, CEO Mateusz Morawiecki said Tuesday.

"This year we would like to improve net profit," Morawiecki told a news conference. "I think that BZ WBK net profit growth will be higher than the 3-5% growth rate expected for the banking sector in Poland."

The growth rate expectation applies to results cleared of one offs, the CEO said. BZ WWBK will take over Santander Consumer Bank this year.

BZ WBK increased first quarter net earnings by 20% to PLN 449.5 million attributable in Q1 2014 to beat the PLN 428.1 million consensus forecast, Q4 group financial statements showed.
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