Over PLN 1.5 billion in profit. Bank Pekao SA announced its financial results for the first quarter

Luc Williams

As the bank reported in the report, in the first quarter of 2024, the profit of the Bank Pekao Capital Group attributable to the bank's shareholders is higher by PLN 68 million than the result achieved in the first quarter of 2023, mainly due to higher operating income, in particular higher interest income , despite the inflationary increase in operating costs.

Consolidated net profit of Bank Pekao in the first quarter of 2024 amounted to PLN 1.514 billion compared to PLN 1.446 billion of net profit a year earlier,” the bank announced in a press release.

ROE indicator (return on capital) in the first quarter of this year. reached 19.6 percent, and the Group's operating income amounted to PLN 3,762 million and was higher by 6.5 percent. from those in the first quarter of last year, mainly thanks to interest income.

Interest income achieved after three months of this year. amounted to PLN 3 88 million and was higher by PLN 314 million, or 11.3%. compared to Q1 2023 mainly due to higher volumes and a stable interest margin.

“Very substantial profits”

“We effectively used the period of higher interest rates, generating very significant profits. We prepared well for the government's Safe Credit program, thanks to which in the first quarter, at the end of this project, we recorded a six-fold increase in mortgage sales,” said Leszek, president of Pekao SA, quoted in the press release. Chunk.

He added that the bank has over 3.2 million active mobile banking customers. “We have already achieved the goal we set for the end of 2024.” – he pointed out. The bank reported that a year earlier there were 2.9 million of them.

The number of new current accounts opened by individual customers was the highest in the quarter, from January to March it amounted to 167,000.

Pekao SA was established in 1929 and is currently the second largest universal bank in Poland with PLN 317 billion of assets. It has the second largest branch network and serves 6.8 million customers. Since 1998, Pekao has been listed on the Warsaw Stock Exchange.

The bank's largest shareholder with 20 percent. shares is PZU, and the second one is the Polish Development Fund with 12.80 percent. (PAP)


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