BRE Bank posted PLN 280m in profits for the third quarter, a 9-percent decrease compared with the same period last year and a 12 percent drop from its second quarter results. The bank’s revenues also fell 0.9 percent in the third quarter, coming in at PLN 777m.
“The previous results were such a positive surprise each time, as the profit has been always surpassing estimates,” said Marcin Materna of the Millenium Bank brokerage office. “Currently, it is returning to normal levels.”
Market watchers agree that BRE Bank’s Q3 performance was heavily impacted by the sour economic environment and expect most Polish banks will post poor results in the coming months.
