WARSAW: Poland's No.3 lender BZ WBK said on Tuesday it wants to book a 2015 net profit higher than the 2.05 billion zlotys ($556.4 million) it recorded in 2014, and will cap costs to counter the effect of the surge in the Swiss franc.
"We want to raise it (net profit) this year by keeping overall costs at par year-on-year, while at the same time raising revenue," chief executive Mateusz Morawiecki told Reuters.
The surge in the value of the Swiss franc imposes extra costs on BZ WBK, a unit of Spain's Banco Santander, because many of its customers have mortgages denominated in the Swiss currency.
"I don't think that the franc portfolio should seriously deteriorate either in the first quarter or in the whole of 2015," Morawiecki said, adding he did expect quarterly costs related to the portfolio to rise.
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