ING Bank Slaski profit meets expectations as fee income, lending grow
ING Bank Slaski profit meets expectations as fee income, lending grow GDANSK, July 30 (Reuters) - ING Bank Slaski INGP.WA, the Polish unit of Dutch banking group ING INGA.AS, reported second-quarter profit in line with expectations on Thursday as strong growth in interest and fee income helped offset the impact of lower interest rates and higher taxes.
Polish banks are looking for stronger lending and fee income to support earnings as lower interest rates and higher taxes weigh on profitability.
Net profit rose 5% year-on-year to 1.19 billion zlotys ($315.31 million), in line with 1.17 billion zlotys seen in a company-compiled consensus
Net interest income rose 7% to 2.33 billion zlotys
Net fee and commission income increased 16% to 679 million zlotys, against a consensus of 652 million zlotys
Mortgage lending jumped 19% year-on-year to 5.85 billion zlotys
The bank is still analyzing the impact of the April 23 ruling by the European Court of Justice that barred lenders from charging interest on loan costs, it said in a statement
($1 = 3.7741 zlotys)
(Reporting by Julia Zmarzlik; Editing by Milla Nissi-Prussak and Matt Scuffham)
((julia.zmarzlik@thomsonreuters.com))
Recent news on ING Bank Slaski SA
See all newsBrief: Poland's UOKIK Fines Erste Bank Polska, ING Bank Slaski, Plus Bank, Bank Pocztowy A Total Of 147.1 Mln Zlotys
ING Bank Slaski profit meets expectations as fee income, lending grow
Brief: Poland's ING Bank Slaski Q2 Net Profit 1.19 Bln Zlotys, In Line With Expectations
Poland - Factors to Watch July 9
Polish watchdog searches banks in mortgage-scoring probe