Earnings Poll: Polish bank Pekao's Q1 net profit forecast to rise 44%

Ipopema Securities SA

26/04/2023 13:37

* 
      Pekao Q1 results due April 27 before market open
    

        * 
      Pekao Q1 net profit forecast at 1.30 bln zlotys
    

  
       GDANSK, April 26 (Reuters) - Polish bank Pekao's
 PEO.WA  first-quarter net profit is expected to grow by 44%
year-on-year, driven by improved net interest income, a Reuters
poll showed on Wednesday.
    State-run Pekao is expected to book a net profit of 1.3
billion zlotys ($240 million), supported by strong net interest
income, which grew 31% on the year thanks to interest rate
hikes, a survey of seven banks and brokerages showed.
    
    The following table summarises market forecasts for Pekao:  

                     FIRST QUARTER 2023:    
==============================================================
               Net Income Net Interest   Net Fee     Net
                             Income      Income   provisions
    (Figures in millions of zlotys unless stated otherwise)
==============================================================
  Median          1308       2705         673       -200
  Average         1303       2711         674       -200
  Lowest          1244       2662         668       -222
  Highest         1346       2800         680       -186
 No. of f'casts    7          7            7          7
  Q1 2022         907        2069         705       -134
  Q4 2022         886        3210         672       -1091
       
Forecasts provided by: Erste Group, Ipopema Securities, DM
Millennium, DM BOS, Trigon DM, Wood&Co, DM mBank. 

($1 = 4.1588 zlotys)

 (Reporting by Mateusz Rabiega;
Editing by Alexander Smith)
 ((Mateusz.rabiega@thomsonreuters.com; +48 58 769 67 57))