Poland’s second lender PKO SA, made PLN 704.2m in profits in the second quarter of the year, down from the PLN 714m it posted for the same period last year. However, the bank beat analysts’ estimates, as they had been predicting the bank would earn just PLN 659m over the last three months of the year. PKO’s net interest income failed to meet the market expectation, coming in at PLN 1.185m in the second quarter of the year, while the market expectations were closer to PLN 1.195m. The net commission income of the bank came in at PLN 579m in the last quarter, slightly above market forecasts, that saw it reaching PLN 566m. The impairment losses on loans reached PLN 167.8 in Q2 2012.
