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The Warsaw Voice » Business » February 22, 2018
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Less profit for banks
February 22, 2018   
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Polish banks will likely post a lower net profit in Q1 than in the previous quarters due to the accumulation of costs related to obligatory payments to restructuring and guarantee funds, the dailies Parkiet and Rzeczpospolita write, citing Millennium DM's head of analysis Marcin Materna.
Large banks are expected to suffer less, but smaller lenders, including Getin Noble Bank, BGZ BNP Paribas and BOS, will likely report considerably smaller earnings, the dailies add.
Handlowy, ING BSK, Alior and Pekao are predicted to show good results, according to Ipopema Securoties' analyst Lukasz Janczak. Banks are unlikely to significantly improve margins, Materna adds, while pointing to increased costs of risks as a factor that may have a negative impact on the sector's Q1 performance.
Listed lenders are also expected to report poor sales of investment products due to the initial confusion caused by the introduction of the MiFID II regulation, he says.
The sector should feel the negative impact of the latter only in a short-term perspective, Ipopema's Janczak hastens to assure.
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