# Poland’s top lender PKO BP Q2 profit quadruples on core business, low provisions
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-08-22
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: PKO BP Q2 Net Profit Quadruples, Beats Expectations
Meta Description: Discover how PKO BP's net profit soared 4x in Q2, fueled by solid core performance & lower provisions for Swiss franc loans. Stay updated on the bank's growth!
URL: https://startupobserver.com/polands-top-lender-pko-bp-q2-profit-quadruples-on-core-business-low-provisions/

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GDANSK (Reuters) – Poland’s biggest bank PKO BP said on Thursday second-quarter net profit quadrupled year-on-year, beating market expectations, mainly fuelled by a strong uptick in core business performance, as well as a drop in legal provisions for Swiss franc mortgage loans.

Profit for the period climbed to 2.35 [billion](https://startupobserver.com/munich-re-q1-net-profit-up-68-in-line-with-preliminary-figures/) zlotys ($611.61 million) while analysts polled had expected 2.14 billion. Net interest income, the state-owned lender’s main revenue generator, jumped 15% to 5.05 billion [zlotys](https://startupobserver.com/polish-fashion-retailer-lpp-confirms-annual-revenue-goal-of-up-to-5-5-billion/).

($1=3.8423 zlotys)

(Reporting by Mateusz Rabiega; Editing by Clarence Fernandez)


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