A Boost From The Banking Sector

November 2004 | Market Alert

Last week we re-iterated our bullish view towards the Polish WIG equity index. This was borne out, with the bourse rallying to 25,886 at one point last week. Amongst the drivers of this rally was the banking sector, which has continued to benefit from the regions' strong macroeconomic fundamentals. Profits at Bank Austria jumped 37% y-o-y in Q304 to EUR151mn, and the firm is looking to expand further across CEE. To this end, it has purchased Bulgaria's Hebrobank to add to its Biochem unit. Poland's third largest bank, Bank BPH, also saw profits rise by 143% to PLN163mn and BRE

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