WARSAW Feb 12 ING Bank Slaski, the
Polish unit of Dutch lender ING, said on Wednesday it would be
difficult to maintain its net profit growth in 2014 after it
increased consolidated net profit by 16 percent to 962 million
zlotys ($315.20 million) last year.
"It is difficult to say if it would be possible to maintain
this dynamic pace of growth, " Slaski CEO Malgorzata Kolakowska
told reporters when asked if consolidated net profit would match
the 2013 level.
"We would like to maintain the dynamic tempo, but there are
some factors that might negatively affect banks results, " she
Bank Slaski, the no. 5 lender in the Polish market, reported
its 2013 financial results earlier on Wednesday.
Kolakowska said a cut, mandated by parliament, in the fee
that banks charge clients for credit card transactions would
have a negative effect.
The cut, to 0.5 percent from 1.2 percent now, takes effect
from July 1. It will diminish the bank's full 2014 net profit by
30-35 million zlotys.
Low interest rates set by the Polish central bank will also
weigh negatively on the bank's margins.
Bank Slaski expects to attract around 300,000 new clients
this year, down from 350,000 in 2013, as competition on the
banking market becomes more intense. The bank currently has 3
($1 = 3.0521 Polish zlotys)
(Reporting by Marcin Goclowski; Editing by Christian Lowe)