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Report: Alior eyes profitability boost in 2020

Poland-based Alior Bank SA expects its profitability to improve in 2020 and is targeting a net interest margin of at least 4.5%, news agency PAP reported Dec. 17, citing the lender's CEO Krzysztof Bachta.

The bank, which reported a net profit of 272.7 million zlotys for the first nine months of 2019, also expects its cost of risk will fall to about 2% in 2020 from the estimated level of 2.3% in 2019, while its gross loan portfolio is expected to grow by 5 billion zlotys on the back of growth in cash and mortgage lending as well as loans to mid-sized companies, Bachta said.

The executive further said Alior Bank intends to pursue fast, organic growth under its 2022 strategy, due to be officially presented in the first quarter of 2020. Together with the strategy, the lender will also release the details of its capital policy for the coming years, which will include dividend plans, PAP noted, adding that Alior Bank had not made any dividend payments to date.

As of Dec. 17, US$1 was equivalent to 3.82 Polish zlotys.