Poland’s largest bank profits better than expected

Bank PKO BP branch in Bialystok, Poland (Henryk Borawski, CC BY-SA)

Romania: EUR2.45bn from Romanians working abroad

Czech Republic: ČEZ wants to boost nuclear output

Poland

The Polish Press Agency reports the numbers announced by PKO BP, the biggest Polish bank, after Q3’17. The net profit was PLN902m (EUR212.2m), much higher than expected – the market consensus was about PLN870.3m (EUR205.2m) net profit.

According to the company’s financial statements the bank’s “net interest income grew 3.9 per cent q/q to PLN2.20bn on a 10 bps increase in net interest margin to 3.37 per cent. Net fee income of PLN766m was up 4.5 per cent q/q and 2 per cent above consensus”. Also deposits increased 1.2 per cent q/q – reaching PLN209.7bn.

PKO BP listed ROE at 8.6 per cent – down 0.2 pps q/q.

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Romania

Romania Insider informs that in 2016 Romanians working abroad sent record high amount to their families in the country. According to the Eurostat it was EUR2.45bn. “This was the highest level after 2010 and the fourth highest level in EU,” the portal announces.

The amount grew by 12.5 per cent y/y. At the same time it’s still below the pre-crisis level, as for example in 2008 Romanians working abroad sent back their homes EUR5.15bn.

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Czech Republic

Radio Praha reports that the company ČEZ, the state-owned (70 per cent) energy giant and the dominant electricity producer, seeks ways to boost its nuclear output. As reported, it is possible that the company will split “in a bid to fund more nuclear reactors”.

According to the company’s executives, in 2017 output from its nuclear plants in Temelin and Dukovany climbed 9 per cent y/y. “The nuclear plants have helped over a 6.0 per cent drop in electricity produced from its [ČEZ’s] coal-fired plants,” Radio Praha informs.

The Radio quotes the CEO Martin Novak: “We plan to significantly increase [2017] nuclear output by 18 percent to 28.4 TWh. In the future we will be aiming above 30 TWh, which is the technological maximum of our power plants.”

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What’s up in indexes

BET (of Bucharest) increased from 7,771.63 index points Friday, November 10th to 7,776.97 index points Monday, November 13th. It’s up 0.32 per cent d/d and up 13.45 per cent y/y.

BUX (of Budapest) decreased from 39,435.24 index points Friday, November 10th to 39,254.00 index points Monday, November 13th. It’s down 0.46 per cent d/d and up 30.31 per cent y/y.

CROBEX (of Zagreb) decreased from 1,857.02 index points Friday, November 10th to 1,842.04 index points Monday, November 13th. It’s down 0.81 per cent and down 6.16 per cent y/y.

OMXR (of Riga) increased from 1,032.21 index points Friday, November 10th to 1,032.60 index points Monday, November 13th. It’s up 0.04 per cent d/d and up 45.24 per cent y/y.

OMXT (of Tallinn) increased from 1,226.77 index points Friday, November 10th to 1,232.27 index points Monday, November 13th. It’s up 0.45 per cent d/d and up 19.80 per cent y/y.

OMXV (of Vilnius) decreased from 660.39 index points Friday, November 10th to 660.30 index points Monday, November 13th. It’s down 0.01 per cent d/d and up 18.06 per cent y/y.

PX (of Prague) decreased from 1,063.70 index points Thursday, November 10th to 1,062.56 index points Monday, November 13th. It’s down 0.11 per cent d/d and up 17.40 per cent y/y.

SAX (of Bratislava) closed at 320.48 index points Monday, November 13th. It’s 0 per cent change d/d and up 1.90 per cent y/y.

SOFIX (of Sofia) decreased from 671.78 index points Friday, November 10th to 669.22 index points Monday, November 13th. It’s down 0.38 per cent d/d and up 25.18 per cent y/y.

UX (of Kyiv) increased from 1,269.82 index points Friday, November 10th to 1,270.44 index points Monday, November 13th. It’s up 0.05 per cent d/d and up 56.52 per cent y/y.

WIG20 (of Warsaw) decreased from 2,457.62 index points Friday, November 10th to 2,454.60 index points Monday, November 13th. It’s down 0.12 per cent d/d and up 36.61 per cent y/y.

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