April 24, 2018 / 9:33 AM / in 3 months

BRIEF-Poland's BZ WBK Expects Net Profit To Rise In 2018 YoY

April 24 (Reuters) - POLAND’S BANK ZACHODNI WBK:

* THE BANK IS STILL ESTIMATING REBRANDING COSTS, IT CANNOT DISCLOSE ANY NUMBERS NOW, CEO MICHAL GAJEWSKI, SAYS ON TUESDAY AT A PRESS CONFERENCE

* GAJEWSKI SAYS BZ WBK REBRANDING TO SANTANDER BANK POLSKA WILL START IN Q3 AND ITS COSTS WILL BE SPREAD OVER TWO YEARS

* CEO ALSO SAYS EXPECTS NET PROFIT TO RISE IN 2018 VERSUS 2017

* IN Q1 BANK’S NET PROFIT HAS FALLEN 3 PCT Y/Y

* CEO SAYS CAN’T EXCLUDE FURTHER BANKS TO BE PUT UP FOR SALE THIS YEAR

* GAJEWSKI ADDS THAT “THE CONSOLIDATION IS UNAVOIDABLE AND SOME OWNERS MAKE THESE DECISIONS. ...OUR STRATEGY IS AN ORGANIC GROWTH STRATEGY BUT IF NEW OPPORTUNITIES APPEAR AND WILL BE ATTRACTIVE FOR US COST-WISE THEN WE WILL CONSIDER ALL OF THEM”

* “IT MAY NOT BE RULED OUT,” HE ADDED WHEN ASKED, IF THERE WOULD BE ANYTHING FOR SALE IN 2018 Further company coverage: (Reporting by Marcin Goclowski)

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