Bank Pekao Beats Third-Quarter Profit Forecasts Despite 20% Drop
Bank Pekao reported an about 20% decline in third-quarter profit, mainly due to higher Polish income tax on domestic banks, but exceeded market expectations. The tax is funding defence spending.
Bank Pekao GPW:PEO reported an about 20% drop in its third-quarter profit mainly due to the higher income tax Poland levied on domestic banks to fund defence spending, but still beat market expectations on Thursday.Pekao joins rivals mBank GPW:MBK, Millennium GPW:MIL and Alior GPW:ALR in exceedi…