April 29, 2014 / 9:17 AM / 4 years ago

Polish BZ WBK CEO expects net profit to rise in 2014

WARSAW, April 29 (Reuters) - BZ WBK, Poland’s No.3 lender by assets and Spain’s Banco Santander unit, expects to book a higher net profit in 2014 than last year’s 2.015 billion zlotys ($663.04 million), its chief executive said on Tuesday.

“It will be a result of stable costs and very positive trends in provisions, which are going down because of the growing economy,” CEO Mateusz Morawiecki told Reuters.

“The growth (of the net profit) will exceed a 3-5 percent pace excluding one-offs,” he added.

Earlier on Tuesday, BZ WBK reported a better-than-expected 20-percent rise in its first-quarter profit, thanks to higher net interest income and lower bad loan provisions. ($1 = 3.0391 Polish Zlotys) (Reporting by Marcin Goclowski; Writing by Adrian Krajewski)

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