According to an interview in PAP with Robert Dzialak, deputy CEO of PKO BP, the bank sold PLN 2.89bn mortgage loans and some PLN 1bn consumer loans in May and June. Dzialak has stated that sales in the two moths of 2Q07 is better in comparison with 1Q07 (PLN 3.6bn mortgage loans and PLN 1.2bn consumer loans). The management expects the sale of consumer loans to exceed PLN 5bn in 2007.
Our view: We expect the news to be supportive for the 2Q07 net income. We do not expect the news to have any major impact on the stock trading today.