Following record profits in Q1 2012 of PLN 1bn, expectations are growing that the company’s profits will reach as much as PLN 4bn in profits in 2012. PKO PB’s CEO Zbigniew Jagiełło doesn’t even want to compare his company to anyone else on the market. “When it comes to profitability and the scale of our business, we compete against no one besides ourselves”, he says. According to Tomasz Bursa from Ipopema Securities, PKO BP is likely to make the PLN 4bn figure, judging from the 14 percent year-on-year rise in operating income it’s posted over the first three months of 2012. “It seems a PLN 4bn result is within PKO’s reach,” the analyst says.
