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ING Bank Slaski profit meets expectations as fee income, lending grow

ING Bank Slaski profit meets expectations as fee income, lending grow

- 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))

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