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Polish lender Pekao posts unexpected profit rise
November 13, 2012 / 6:16 AM / 5 years ago

Polish lender Pekao posts unexpected profit rise

WARSAW, Nov 13 (Reuters) - Pekao, Poland’s No.2 lender, reported a 4-percent rise in third-quarter net profit on Tuesday after taking smaller-than-expected provisions for bad loans.

The bank, a unit of Italy’s UniCredit, said it earned 798 million zlotys ($243 million) compared to 699 million expected by analysts polled by Reuters. ($1 = 3.2783 Polish zlotys) (Reporting by Chris Borowski)

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