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| Name | Symbol | Market | Type |
|---|---|---|---|
| mBank SA (PK) | USOTC:BREJY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.42 | 7.28 | 8.38 | 0.00 | 19:26:58 |
From Jul 2019 to Jul 2024
WARSAW--Poland's BRE Bank S.A. (BRE.WA), unit of Commerzbank AG (CBK.XE), said Friday its fourth-quarter net profit dropped 4.3% annually, beating market expectations as non performing loan provisions turned out significantly lower than feared.
The bank posted a net profit of 272.6 million zlotys ($88.3 million) in the quarter, significantly higher than the PLN242 million forecast in a Dow Jones Newswires poll of 7 analysts.
BRE's provisions for non-performing loans edged down 0.5% to PLN89 million, while analysts expected provisions to have risen 31% to PLN118 million.
The drop in earnings is mostly attributable to declines in net interest income, down 2.4% annually, and net fee income, down 4.8%. Both results were a touch below market expectations.
BRE separately said it plans to offer shareholders about one third of its 2012 annual net profit, which at consolidated level reached PLN 1.2 billion.
Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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