Citi Handlowy announced its preliminary financial results, reporting that its net profit could expand to PLN 244.6m in the fourth quarter of 2012. That would be a significant increase from the PLN 221m posted for Q3. Market watchers expected to come in at just PLN 220.3m. Net interest income for the bank reached PLN 351.3m in the period, while net commision income came in at PLN 143.7m, again surpassing market estimates.
Impairment losses on loans amounted to PLN 1bn in the fourth quarter of 2012, which came as a surprise for the market, that has been speculating bad loans to reach just PLN 24.1m.
