Poland's PKO BP CEO says doesn't rule out record 1 bln zlotys in Q1 net profit

PKO BP chief executive Rafal Juszczak 'doesn't rule out' that Poland's second largest bank will show a record net profit of 1 bln zlotys when it reports its first-quarter earnings in the middle of May, he was quoted as saying by newspaper Rzeczpospolita.

This would be up from 672.5 mln zlotys earned by the state-controlled lender in the first three months of last year and higher than PKO's current record of 870 mln zlotys in the fourth quarter, Rzeczpospolita said.

The newspaper quoted Juszczak as saying that this year's net profit may also be higher than 3 bln zlotys reported in the whole of 2007.

PKO BP (nyse: BP - news - people ), which lost its top spot among Polish banks after a merger of Bank Pekao and Bank BPH in 2007, wants to regain the number one position in the sector over two years, Juszczak told Rzeczpospolita.
Source: By Piotr Skolimowski, forbes.com