Bank Handlowy to post ca. PLN 60 mln group net profit in Q1
April 12, 2017
Listed Citibank unit Bank Handlowy likely ended the first quarter with a PLN 60 million group net profit following a hit to trading income and reserves for payments to the Banking Guarantee Fund (BFG), Bank Handlowy said in a market filing.
Handlowy cited a "lower trading result" and a "one-off booking of reserves for premiums to the bank resolution fund" at the BFG, Handlowy said of what it called a non-deductible cost.
In Q1 2016 Handlowy netted group PLN 104.4 million. The trading result amounted to 44.9 million.
The final report for Q1 will be published on April 28, the bank said.