Bank Pekao Q1 profit falls 27 percent to 1.23 billion zlotys
The lender reported a net profit of 1.23 billion zlotys for the first quarter. This result exceeded analyst expectations despite rising taxes and costs.
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BANK PEKAO SA reported a 27% drop in first-quarter net profit to 1.23 billion zlotys ($337 million) on Thursday morning. The result beat the 1.16 billion zloty estimate from analysts polled by the lender. Rising taxes and operational costs are squeezing margins for the second-largest bank in Poland.
